Corebridge Financial Inc. Sells 4,215 Shares of Edison International (NYSE:EIX)

Corebridge Financial Inc. decreased its stake in shares of Edison International (NYSE:EIX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,625 shares of the utilities provider’s stock after selling 4,215 shares during the period. Corebridge Financial Inc.’s holdings in Edison International were worth $7,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EIX. Vanguard Group Inc. increased its holdings in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. State Street Corp grew its holdings in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares in the last quarter. American Century Companies Inc. raised its position in Edison International by 2.1% in the 4th quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider’s stock valued at $262,264,000 after buying an additional 69,074 shares during the last quarter. Finally, Amundi lifted its stake in Edison International by 0.3% in the 4th quarter. Amundi now owns 3,118,404 shares of the utilities provider’s stock valued at $248,973,000 after acquiring an additional 10,396 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International Stock Up 1.6 %

EIX stock opened at $58.20 on Friday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The business’s 50 day simple moving average is $55.00 and its 200 day simple moving average is $72.59. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $22.41 billion, a PE ratio of 17.07, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.