Illinois Municipal Retirement Fund Sells 3,815 Shares of Edison International (NYSE:EIX)

Illinois Municipal Retirement Fund decreased its holdings in shares of Edison International (NYSE:EIX) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 127,855 shares of the utilities provider’s stock after selling 3,815 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Edison International were worth $10,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC raised its stake in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after acquiring an additional 32,391 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after acquiring an additional 28,240 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX opened at $52.08 on Wednesday. The company has a fifty day moving average price of $62.92 and a two-hundred day moving average price of $77.04. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The firm has a market capitalization of $20.16 billion, a PE ratio of 15.27, a P/E/G ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is currently 97.07%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Barclays cut their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Company 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.