PNC Financial Services Group Inc. Has $4.67 Million Stock Position in Edison International (NYSE:EIX)

PNC Financial Services Group Inc. lifted its holdings in Edison International (NYSE:EIX) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,577 shares of the utilities provider’s stock after purchasing an additional 3,311 shares during the period. PNC Financial Services Group Inc.’s holdings in Edison International were worth $4,666,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EIX. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Edison International in the 3rd quarter worth approximately $1,387,000. Fifth Third Wealth Advisors LLC grew its holdings in Edison International by 51.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 2,554 shares during the last quarter. Swiss National Bank boosted its position in Edison International by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,141,900 shares of the utilities provider’s stock valued at $99,448,000 after buying an additional 2,900 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Edison International by 15.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 23,095 shares of the utilities provider’s stock worth $2,011,000 after buying an additional 3,078 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Edison International by 1.0% during the third quarter. Natixis Advisors LLC now owns 151,011 shares of the utilities provider’s stock worth $13,152,000 after purchasing an additional 1,537 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

Shares of Edison International stock opened at $86.48 on Monday. The company has a 50 day moving average of $84.64 and a 200-day moving average of $80.17. The company has a market cap of $33.48 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the company posted $1.38 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EIX. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.