Insider Selling: Edison International (NYSE:EIX) SVP Sells 11,222 Shares of Stock

Edison International (NYSE:EIX) SVP Caroline Choi sold 11,222 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $71.64, for a total value of $803,944.08. Following the completion of the transaction, the senior vice president now directly owns 20,881 shares of the company’s stock, valued at approximately $1,495,914.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Edison International Trading Down 0.6 %

Edison International stock traded down $0.40 during trading hours on Tuesday, hitting $70.82. The stock had a trading volume of 514,160 shares, compared to its average volume of 1,684,757. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 4.11 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 1.87. The business’s 50 day simple moving average is $70.13 and its 200-day simple moving average is $69.86. Edison International has a one year low of $54.45 and a one year high of $74.92.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Edison International had a net margin of 6.81% and a return on equity of 12.69%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business earned $0.94 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that Edison International will post 4.72 EPS for the current fiscal year.

Edison International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.7375 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 4.17%. Edison International’s dividend payout ratio (DPR) is presently 118.95%.

Institutional Trading of Edison International

Several institutional investors have recently modified their holdings of EIX. Fiduciary Alliance LLC bought a new stake in Edison International in the second quarter valued at approximately $25,000. Capital Analysts LLC lifted its position in shares of Edison International by 64.0% in the 1st quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 171 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of Edison International in the 2nd quarter worth approximately $36,000. First Horizon Advisors Inc. boosted its stake in shares of Edison International by 61.4% in the 1st quarter. First Horizon Advisors Inc. now owns 615 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 234 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Edison International by 61.4% during the second quarter. Farther Finance Advisors LLC now owns 670 shares of the utilities provider’s stock worth $47,000 after buying an additional 255 shares during the period. Institutional investors own 88.17% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and raised their target price for the company from $73.00 to $75.00 in a report on Tuesday, August 22nd. Morgan Stanley cut their target price on Edison International from $56.00 to $51.00 and set an “underweight” rating for the company in a research note on Wednesday, August 23rd. StockNews.com initiated coverage on Edison International in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating in a report on Tuesday, August 15th. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.91.

About Edison International

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.