AMJ Financial Wealth Management Buys 4,761 Shares of Edison International (NYSE:EIX)

AMJ Financial Wealth Management boosted its holdings in Edison International (NYSE:EIX) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,849 shares of the utilities provider’s stock after buying an additional 4,761 shares during the period. Edison International makes up about 1.8% of AMJ Financial Wealth Management’s investment portfolio, making the stock its 29th biggest position. AMJ Financial Wealth Management’s holdings in Edison International were worth $5,734,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EIX. Able Wealth Management LLC acquired a new position in Edison International in the fourth quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the second quarter worth $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International in the first quarter worth $28,000. Country Trust Bank acquired a new stake in Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 in the last ninety days. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EIX shares. Morgan Stanley increased their target price on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. UBS Group increased 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. Wells Fargo & Company raised their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Argus boosted their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $82.36.

Edison International Stock Up 0.5 %

EIX stock traded up $0.46 during midday trading on Tuesday, hitting $86.55. The company’s stock had a trading volume of 95,099 shares, compared to its average volume of 1,984,726. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The company’s fifty day moving average price is $80.04 and its 200 day moving average price is $74.46. The stock has a market capitalization of $33.42 billion, a P/E ratio of 37.76 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the previous year, the business earned $1.01 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Edison International will post 4.96 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.60%. Edison International’s dividend payout ratio is presently 136.84%.

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.