Patriot Financial Group Insurance Agency LLC has $360,000 stake in Edison International (NYSE:EIX)


Patriot Financial Group Insurance Agency LLC boosted its position in Edison International (NYSE:EIX – Get Rating ) by 20.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,131 shares of the utilities provider’s stock after purchasing an additional 882 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Edison International were worth $360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital International Investors raised its stake in Edison International by 360.4% in the 4th quarter. Capital International Investors now owns 12,519,754 shares of the utilities provider’s stock valued at $854,473,000 after purchasing an additional 9,800,598 shares during the period. Capital Research Global Investors raised its stake in Edison International by 28.5% in the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider’s stock valued at $1,471,953,000 after buying an additional 4,777,038 shares during the period. Norges Bank acquired a new position in Edison International in the 4th quarter valued at $265,494,000. JPMorgan Chase & Co. raised its stake in Edison International by 55.2% in the fourth quarter. JPMorgan Chase & Co. now owns 9,421,287 shares of the utilities provider’s stock valued at $643,004,000 after purchasing an additional 3,349,315 shares during the period. Finally, Deutsche Bank AG raised its stake in Edison International by 7.8% in the 4th quarter. Deutsche Bank AG now owns 9,580,805 shares of the utilities provider’s stock valued at $653,891,000 after buying an additional 691,686 shares during the period. Institutional investors and hedge funds own 87.89% of the company’s shares.

Analyst upgrades and downgrades

EIX has been the subject of a number of recent research reports. Bank of America restated an “underperform” rating on shares of Edison International in a research note on Thursday, July 14th. Barclays reduced their price objective on shares of Edison International from $73.00 to $67.00 and set an equal weight rating for the company in a research note on Monday, July 18th. Mizuho lowered shares of Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $82.00 to $72.00 in a research note on Tuesday, May 10th. Morgan Stanley boosted their price objective on shares of Edison International from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. Finally, UBS Group reduced their price objective on shares of Edison International from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus price target of $72.56, according to data from MarketBeat.

Edison International shares fall 0.3%

Shares of EIX stock opened at $71.54 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56, and a current ratio of 0.61. The firm’s 50-day moving average is $64.35 and its 200-day moving average is $66.08. The stock has a market cap of $27.29 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 5.45 and a beta of 0.68. Edison International has a 52-week low of $54.98 and a 52-week high of $73.32.

Edison International (NYSE:EIX – Get Rating ) last issued its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Edison International had a net margin of 3.63% and a return on equity of 12.42%. Business revenue increased 20.9% year over year. During the same period a year ago, the firm earned $0.94 EPS. sell-side analysts predict that Edison International will post 4.42 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Tuesday, July 5th were given a dividend of $0.70 per share. The ex-dividend date was Friday, July 1st. This represents a dividend of $2.80 on an annualized basis and a dividend yield of 3.91%. Edison International’s payout ratio is currently 212.12%.

Edison International Profile

(Get rating)

Edison International, through its subsidiaries, produces and distributes electricity. It distributes electricity to 15 million residential, commercial, industrial, public, agricultural and other customers in Southern, Central and Coastal California. The company also provides energy solutions for commercial and industrial users.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)



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