Atria Wealth Solutions Inc. Reduces Stake in Edison International (NYSE:EIX)

Atria Wealth Solutions Inc. lessened its stake in shares of Edison International (NYSE:EIX) by 6.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,642 shares of the utilities provider’s stock after selling 1,036 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Edison International were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Highline Wealth Partners LLC bought a new position in shares of Edison International in the third quarter valued at approximately $26,000. Eastern Bank purchased a new stake in Edison International in the 3rd quarter worth approximately $27,000. Crews Bank & Trust bought a new position in Edison International in the 4th quarter valued at $25,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Edison International during the 3rd quarter valued at $32,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of NYSE:EIX opened at $52.10 on Monday. The company’s fifty day moving average is $64.07 and its 200 day moving average is $77.46. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The stock has a market cap of $20.17 billion, a PE ratio of 15.28, a PEG ratio of 1.07 and a beta of 0.90.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.35%. 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 97.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley dropped their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.11.

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.