Legal & General Group Plc Sells 22,911 Shares of Edison International $EIX

by · The Cerbat Gem

Legal & General Group Plc decreased its holdings in shares of Edison International (NYSE:EIX – Free Report) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,538,344 shares of the utilities provider’s stock after selling 22,911 shares during the quarter. Legal & General Group Plc’s holdings in Edison International were worth $272,391,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Edison International by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock valued at $3,134,268,000 after acquiring an additional 480,726 shares in the last quarter. AQR Capital Management LLC raised its holdings in Edison International by 8.0% in the 3rd quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock valued at $595,033,000 after acquiring an additional 801,082 shares in the last quarter. Northern Trust Corp raised its holdings in Edison International by 11.2% in the 3rd quarter. Northern Trust Corp now owns 5,407,847 shares of the utilities provider’s stock valued at $298,946,000 after acquiring an additional 545,344 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Edison International by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,346,201 shares of the utilities provider’s stock valued at $260,859,000 after acquiring an additional 220,785 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Edison International by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,186,467 shares of the utilities provider’s stock valued at $231,428,000 after acquiring an additional 67,722 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 500 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the transaction, the director directly owned 34,212 shares in the company, valued at approximately $2,576,163.60. This trade represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Up 0.1%

NYSE EIX opened at $71.25 on Wednesday. The firm has a market cap of $27.42 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 1.23 and a beta of 0.68. Edison International has a one year low of $47.73 and a one year high of $76.21. The stock’s 50 day simple moving average is $71.09 and its 200 day simple moving average is $65.81. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.

Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.Edison International’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, sell-side analysts forecast that Edison International will post 6.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EIX has been the subject of several recent research reports. Truist Financial cut their price target on Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a report on Monday, May 18th. JPMorgan Chase & Co. upped their price target on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Barclays dropped their target price on Edison International from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. LADENBURG THALM/SH SH reissued a “sell” rating and issued a $63.00 target price on shares of Edison International in a report on Thursday, March 5th. Finally, Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 15th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.64.

View Our Latest Analysis on Edison International

Edison International Company Profile

(Free Report)

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

See Also

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