Varma Mutual Pension Insurance Co Sells 25,753 Edison International (NYSE:EIX) Shares

Varma Mutual Pension Insurance Co reduced its holdings in Edison International (NYSE:EIX – Free Report) by 15.4% in the second quarter, Holdings Channel.com reports. The firm owned 141,347 shares of the utilities provider’s stock after selling 25,753 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Edison International were worth $10,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Teacher Retirement System of Texas increased its position in Edison International by 118.8% during the 4th quarter. Teacher Retirement System of Texas now owns 133,472 shares of the utilities provider’s stock valued at $9,542,000 after acquired an additional 72,460 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Edison International by 48.3% in the fourth quarter. BNP Paribas Financial Markets now owns 573,371 shares of the utilities provider’s stock valued at $40,990,000 after purchasing an additional 186,734 shares in the last quarter. Jump Financial LLC purchased a new position in Edison International in the fourth quarter valued at approximately $1,215,000. Avantax Advisory Services Inc. boosted its holdings in Edison International by 73.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 8,922 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Edison International by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after purchasing an additional 202,541 shares in the last quarter. 88.95% of shares are currently owned by institutional investors.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Mizuho raised their target price on shares of 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 price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Wells Fargo & Company upped their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Guggenheim boosted their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Edison International currently has a consensus rating of “Hold” and an average price target of $82.36, based on data from MarketBeat.

Read our latest report on Edison International

Insider buying and selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last 90 days. Insiders own 1.03% of the company’s shares.

Edison International Stock Performance

Shares of EIX stock opened at $86.09 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96, and a current ratio of 1.03. The stock has a 50-day moving average of $80.04 and a two-hundred-day moving average of $74.46. The stock has a market cap of $33.25 billion, a P/E ratio of 37.76 and a beta of 0.91. Edison International has a one year low of $58.82 and a one year high of $88.77.

Edison International (NYSE:EIX – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue was up 9.4% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $1.01 per share. As a group, research analysts predict that Edison International will post 4.96 EPS for the current year.

Edison International announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a dividend of $3.12 on an annualized basis and a dividend yield of 3.62%. Edison International’s payout ratio is currently 136.84%.

Edison International Company Profile

(Free Report)

Edison International, through its subsidiaries, engages in the generation and distribution of electricity. The company supplies and supplies electricity to an area of ​​approximately 50,000 square miles in Southern California to residential, commercial, industrial, government, agricultural and other sectors.

Further reading

Want to see what other hedge funds own EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).

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