Edison International (NYSE:EIX) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its stake in shares of Edison International (NYSE:EIX) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,330 shares of the utilities provider’s stock after selling 2,290 shares during the period. Griffin Asset Management Inc.’s holdings in Edison International were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Hennion & Walsh Asset Management Inc. acquired a new position in Edison International during the fourth quarter worth about $235,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International during the 3rd quarter worth approximately $1,387,000. Sound Income Strategies LLC lifted its stake in Edison International by 5.9% in the 4th quarter. Sound Income Strategies LLC now owns 195,788 shares of the utilities provider’s stock valued at $15,632,000 after buying an additional 10,863 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Edison International by 6.6% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock worth $6,460,000 after acquiring an additional 5,011 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in shares of Edison International by 54.7% in the fourth quarter. Ameritas Advisory Services LLC now owns 27,200 shares of the utilities provider’s stock valued at $2,172,000 after acquiring an additional 9,612 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE:EIX opened at $57.51 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm’s 50-day moving average is $77.19 and its 200-day moving average is $80.98. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The company has a market cap of $22.26 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.76%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio is currently 97.07%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EIX shares. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Morgan Stanley lowered their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays decreased their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International 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.