Wed Sep 25 08:16:47 UTC 2024: ## Federated Hermes Increases Stake in Edison International, Institutional Investors Show Interest

**Los Angeles, CA – September 25, 2024** – Federated Hermes Inc. has increased its stake in Edison International (NYSE:EIX) by 87.9% in the second quarter, according to a recent filing with the Securities & Exchange Commission. The fund now owns 3,326 shares of the utility provider, valued at $239,000.

This move reflects a growing confidence in the company, with several other institutional investors and hedge funds also taking positions in EIX. Notable purchases include Able Wealth Management LLC, Ashton Thomas Private Wealth LLC, Global Trust Asset Management LLC, Country Trust Bank, and Farmers & Merchants Investments Inc., who significantly expanded their holdings.

**Analysts Weigh In**

Analysts are also bullish on Edison International. Bank of America recently initiated coverage on the company with a “buy” rating and a $95.00 target price. Wells Fargo, Guggenheim, and Argus have also upgraded their price targets, suggesting a positive outlook for the stock. While Morgan Stanley maintains an “underweight” rating, they also increased their price target. Overall, MarketBeat’s consensus rating for EIX is “Hold” with a target price of $85.83.

**Strong Earnings Performance**

Edison International recently reported strong second-quarter earnings, surpassing analysts’ expectations with earnings per share of $1.23 compared to the estimated $1.05. The company also posted a revenue of $4.34 billion, exceeding estimates by $220 million.

**Insider Activity**

Despite the positive outlook, CEO J Andrew Murphy has sold a significant number of shares in recent transactions, raising eyebrows among investors. However, the company maintains a solid dividend yield of 3.63%, and the recent dividend declaration further strengthens its appeal to income-seeking investors.

Edison International, through its subsidiaries, provides electricity to a vast area in Southern California. The company remains a significant player in the energy sector, and its recent performance, coupled with analyst optimism, suggests a promising future for the company.

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