Tokio Marine Asset Management Co. Ltd. Buys 1,417 Shares of The Southern Company (NYSE:SO)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of The Southern Company (NYSE:SO) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,747 shares of the utilities provider’s stock after acquiring an additional 1,417 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Southern were worth $3,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SO. Atria Wealth Solutions Inc. boosted its stake in Southern by 2.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 88,390 shares of the utilities provider’s stock valued at $6,198,000 after buying an additional 2,059 shares in the last quarter. Wynn Capital LLC acquired a new stake in shares of Southern in the 4th quarter valued at approximately $339,000. Bfsg LLC bought a new stake in shares of Southern during the 4th quarter valued at approximately $99,000. Madison Park Capital Advisors LLC bought a new position in Southern in the 4th quarter valued at approximately $317,000. Finally, NewSquare Capital LLC boosted its position in Southern by 1.8% in the fourth quarter. NewSquare Capital LLC now owns 102,013 shares of the utilities provider’s stock valued at $7,049,000 after buying an additional 1,839 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price target on shares of Southern in a report on Wednesday, February 21st. Barclays increased their target price on Southern from $65.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company reduced their price target on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Scotiabank dropped their price objective on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $76.00 target price (up from $72.00) on shares of Southern in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Southern has an average rating of “Moderate Buy” and an average target price of $74.36.

Southern Stock Up 1.0 %

Shares of SO stock traded up $0.75 on Thursday, reaching $74.66. 3,112,687 shares of the company were exchanged, compared to its average volume of 4,679,615. The Southern Company has a one year low of $61.56 and a one year high of $75.80. The company has a market cap of $81.73 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.58 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The company has a 50-day moving average of $69.35 and a 200-day moving average of $69.27.

Southern (NYSE:SO) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. Southern had a net margin of 15.79% and a return on equity of 11.40%. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was down 14.2% compared to the same quarter last year. Analysts anticipate that The Southern Company will post 4 earnings per share for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be given a $0.72 dividend. This is a boost from Southern’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.88 annualized dividend and a yield of 3.86%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Insider Activity at Southern

In related news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the transaction, the executive vice president now owns 22,502 shares of the company’s stock, valued at approximately $1,508,984.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,899 shares of company stock valued at $739,587. 0.18% of the stock is owned by corporate insiders.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.