Edison International (NYSE:EIX) CEO Sells $2,604,300.60 in Stock

Edison International (NYSE:EIX) CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

J Andrew Murphy also recently made the following trade(s):

• On Friday, July 26th, J Andrew Murphy sold 28,995 shares of Edison International stock. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85.
• On Monday, May 13th, J Andrew Murphy sold 9,794 shares of Edison International stock. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58.
• On Friday, May 10th, J Andrew Murphy sold 58,099 shares of Edison International stock. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99.

Edison International Price Performance

EIX stock opened at $82.27 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a market cap of $31.77 billion, a price-to-earnings ratio of 36.08 and a beta of 0.91. The company’s fifty day simple moving average is $74.29 and its 200 day simple moving average is $71.19. Edison International has a 12-month low of $58.82 and a 12-month high of $83.05.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Institutional Trading of Edison International

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Edison International by 25.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,767 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 3,565 shares during the period. Blue Trust Inc. boosted its holdings in Edison International by 70.9% in the fourth quarter. Blue Trust Inc. now owns 800 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 332 shares in the last quarter. Fifth Third Bancorp grew its stake in Edison International by 11.1% in the fourth quarter. Fifth Third Bancorp now owns 11,480 shares of the utilities provider’s stock valued at $821,000 after acquiring an additional 1,151 shares during the period. Arizona State Retirement System increased its holdings in shares of Edison International by 0.8% during the fourth quarter. Arizona State Retirement System now owns 105,343 shares of the utilities provider’s stock valued at $7,531,000 after acquiring an additional 858 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Edison International by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 201,791 shares of the utilities provider’s stock valued at $14,448,000 after acquiring an additional 13,648 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Mizuho boosted their price target on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Argus boosted their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, The Goldman Sachs Group began coverage on shares of Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $78.27.

About Edison International

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.