AIA Group Ltd Purchases 15,944 Shares of Edison International $EIX

AIA Group Ltd lifted its holdings in Edison International (NYSE:EIX) by 6.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 254,589 shares of the utilities provider’s stock after acquiring an additional 15,944 shares during the quarter. AIA Group Ltd’s holdings in Edison International were worth $18,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of EIX. AQR Capital Management LLC increased its position in shares of Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Norges Bank purchased a new position in Edison International in the fourth quarter worth $339,311,000. Goldman Sachs Group Inc. grew its stake in Edison International by 41.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider’s stock valued at $329,924,000 after purchasing an additional 1,609,847 shares during the period. Assetmark Inc. grew its stake in Edison International by 1,118.0% in the 1st quarter. Assetmark Inc. now owns 1,601,327 shares of the utilities provider’s stock valued at $117,185,000 after purchasing an additional 1,469,860 shares during the period. Finally, Swedbank AB increased its position in shares of Edison International by 207.0% during the 1st quarter. Swedbank AB now owns 2,073,181 shares of the utilities provider’s stock valued at $151,715,000 after purchasing an additional 1,397,858 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

Shares of EIX opened at $77.58 on Friday. Edison International has a 1 year low of $50.85 and a 1 year high of $79.88. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68. The stock’s fifty day moving average price is $72.71 and its two-hundred day moving average price is $69.73. The firm has a market cap of $29.85 billion, a PE ratio of 8.42, a PEG ratio of 6.04 and a beta of 0.66.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts forecast that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 38.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial lowered their target price on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Bank of America reduced their price target on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Edison International in a research report on Monday, July 13th. Finally, Barclays boosted their target price on shares of Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $72.73.

About Edison International

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.