Sentry Investment Management LLC Acquires 4,000 Shares of Edison International (EIX)

Sentry Investment Management LLC boosted its holdings in shares of Edison International (NYSE:EIX) by 24.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,504 shares of the utilities provider’s stock after purchasing an additional 4,000 shares during the period. Sentry Investment Management LLC’s holdings in Edison International were worth $1,603,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tudor Investment Corp ET AL lifted its position in shares of Edison International by 79.9% in the 1st quarter. Tudor Investment Corp ET AL now owns 10,077 shares of the utilities provider’s stock valued at $802,000 after acquiring an additional 4,477 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Edison International by 18.4% in the 2nd quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after acquiring an additional 85,968 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after acquiring an additional 526,261 shares in the last quarter. BlackRock Inc. lifted its position in shares of Edison International by 2,416.6% in the 1st quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after acquiring an additional 23,420,049 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Edison International by 1.9% in the 2nd quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after acquiring an additional 12,086 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 28th. Edison International’s dividend payout ratio is presently 50.82%.

In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Sentry Investment Management LLC Acquires 4,000 Shares of Edison International (EIX)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/18/sentry-investment-management-llc-acquires-4000-shares-of-edison-international-eix.html.

Several brokerages recently commented on EIX. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Citigroup Inc. restated a “neutral” rating and issued a $84.00 price target (down previously from $85.00) on shares of Edison International in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating on shares of Edison International in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Finally, the SEC website. Insiders own 0.41% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Sentry Investment Management LLC Acquires 4,000 Shares of Edison International (EIX)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/18/sentry-investment-management-llc-acquires-4000-shares-of-edison-international-eix.html.

Several brokerages recently commented on EIX. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Citigroup Inc. restated a “neutral” rating and issued a $84.00 price target (down previously from $85.00) on shares of Edison International in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating on shares of Edison International in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Finally, Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, July 6th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Edison International presently has a consensus rating of “Hold” and an average target price of $85.00.

About Edison International

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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