Edison International (EIX) Holdings Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Edison International (NYSE:EIX) by 54.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,835 shares of the utilities provider’s stock after selling 27,980 shares during the period. Assenagon Asset Management S.A.’s holdings in Edison International were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Reilly Financial Advisors LLC lifted its holdings in shares of Edison International by 18.6% during the 3rd quarter. Reilly Financial Advisors LLC now owns 4,567 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 717 shares in the last quarter. Strs Ohio lifted its holdings in shares of Edison International by 1.4% during the 3rd quarter. Strs Ohio now owns 59,183 shares of the utilities provider’s stock valued at $4,005,000 after purchasing an additional 832 shares in the last quarter. Murphy Capital Management Inc. lifted its holdings in shares of Edison International by 13.9% during the 2nd quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 900 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Edison International by 94.2% during the 3rd quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 989 shares in the last quarter. Finally, BB&T Securities LLC lifted its holdings in shares of Edison International by 29.3% during the 2nd quarter. BB&T Securities LLC now owns 4,525 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 81.59% of the company’s stock.

Several research firms have recently weighed in on EIX. Morgan Stanley lifted their price objective on Edison International from $72.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. ValuEngine cut Edison International from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Co lifted their price objective on Edison International from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Bank of America lifted their price objective on Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Goldman Sachs Group set a $69.00 price objective on Edison International and gave the company a “hold” rating in a report on Friday, September 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $73.92.

NYSE EIX opened at $61.00 on Friday. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.80 and a beta of 0.01. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.02. Edison International has a 52 week low of $57.63 and a 52 week high of $83.38.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.25. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities analysts expect that Edison International will post 4.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were paid a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, September 27th. Edison International’s payout ratio is 53.78%.

COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/11/10/edison-international-eix-holdings-cut-by-assenagon-asset-management-s-a.html.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

See Also: What is the NASDAQ?

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

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

Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply