Thrivent Financial for Lutherans Has $23.15 Million Stock Position in Edison International $EIX

Thrivent Financial for Lutherans lifted its stake in shares of Edison International (NYSE:EIX) by 35.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,845 shares of the utilities provider’s stock after purchasing an additional 110,337 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Edison International were worth $23,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EIX. Norges Bank acquired a new stake in Edison International in the second quarter valued at approximately $268,801,000. AQR Capital Management LLC lifted its holdings in shares of Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after purchasing an additional 4,534,864 shares in the last quarter. Vanguard Group Inc. grew its position in Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the period. Los Angeles Capital Management LLC increased its stake in Edison International by 237.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock valued at $98,276,000 after purchasing an additional 1,339,806 shares in the last quarter. Finally, Man Group plc raised its holdings in Edison International by 109.6% during the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after buying an additional 1,209,964 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Trading Up 1.1%

NYSE EIX opened at $61.44 on Wednesday. The business’s fifty day moving average is $59.89 and its 200-day moving average is $57.03. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.89 and a beta of 0.82. Edison International has a one year low of $47.73 and a one year high of $63.19.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.8775 per share. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s payout ratio is currently 45.88%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. TD Cowen initiated coverage on Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. UBS Group restated a “buy” rating on shares of Edison International in a report on Friday, January 16th. Finally, Barclays decreased their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus price target of $63.30.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.