Patriot Financial Group Insurance Agency LLC Sells 2,030 Shares of Edison International (NYSE:EIX)

Patriot Financial Group Insurance Agency LLC decreased its holdings in Edison International (NYSE:EIX) by 17.8% in the first quarter, HoldingsChannel.com reports. The fund owned 9,359 shares of the utilities provider’s stock after selling 2,030 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Edison International were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EIX. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Edison International by 46.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,399 shares of the utilities provider’s stock worth $2,984,000 after acquiring an additional 11,840 shares in the last quarter. Choreo LLC increased its position in Edison International by 14.0% in the fourth quarter. Choreo LLC now owns 6,800 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 837 shares during the last quarter. Bleakley Financial Group LLC increased its position in Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Edison International by 14.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,548 shares of the utilities provider’s stock valued at $3,637,000 after purchasing an additional 5,726 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in Edison International by 22.1% during the fourth quarter. Apollon Wealth Management LLC now owns 3,628 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 657 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EIX. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday. Morgan Stanley set a $52.00 price objective on Edison International and gave the company an “underweight” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Barclays raised their price target on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Stock Down 8.1%

Shares of NYSE EIX opened at $49.43 on Tuesday. The company has a market capitalization of $19.02 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.07 and a beta of 0.78. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a 50 day simple moving average of $56.01 and a 200-day simple moving average of $61.96. Edison International has a 1 year low of $48.38 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts predict that Edison International will post 4.95 earnings per share for the current year.

About Edison International

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.