Edison International (EIX) Position Lifted by American International Group Inc.

American International Group Inc. increased its holdings in Edison International (NYSE:EIX) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 117,839 shares of the utilities provider’s stock after acquiring an additional 7,527 shares during the quarter. American International Group Inc.’s holdings in Edison International were worth $7,975,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Edison International by 3.2% during the third quarter. BlackRock Inc. now owns 28,543,129 shares of the utilities provider’s stock valued at $1,931,800,000 after buying an additional 881,794 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Edison International by 8.4% during the third quarter. PNC Financial Services Group Inc. now owns 97,923 shares of the utilities provider’s stock valued at $6,627,000 after buying an additional 7,572 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Edison International by 37.5% during the third quarter. Bank of New York Mellon Corp now owns 3,045,837 shares of the utilities provider’s stock valued at $206,141,000 after buying an additional 830,137 shares in the last quarter. AXA raised its stake in Edison International by 783.4% during the third quarter. AXA now owns 278,980 shares of the utilities provider’s stock valued at $18,881,000 after buying an additional 247,400 shares in the last quarter. Finally, Stelac Advisory Services LLC acquired a new stake in Edison International during the third quarter valued at approximately $129,000. Institutional investors and hedge funds own 81.93% of the company’s stock.

Several brokerages have issued reports on EIX. ValuEngine upgraded Edison International from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 27th. Mizuho upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $62.00 to $57.50 in a research note on Wednesday, November 21st. Barclays lowered their target price on Edison International from $73.00 to $58.00 and set a “hold” rating for the company in a report on Monday, November 19th. Citigroup raised Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $72.00 to $59.00 in a report on Friday, November 16th. Finally, SunTrust Banks lowered their target price on Edison International to $75.00 and set a “buy” rating for the company in a report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.54.

NYSE:EIX opened at $55.32 on Monday. The company has a market cap of $18.02 billion, a PE ratio of 12.29, a P/E/G ratio of 2.25 and a beta of 0.01. Edison International has a 52 week low of $45.50 and a 52 week high of $81.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.66.

Edison International (NYSE:EIX) last posted 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 company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts anticipate that Edison International will post 4.14 EPS for the current year.

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Edison International Company Profile

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.

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

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