Dai ichi Life Insurance Company Ltd Purchases 4,501 Shares of The Southern Company (NYSE:SO)

Dai ichi Life Insurance Company Ltd boosted its stake in shares of The Southern Company (NYSE:SOFree Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,249 shares of the utilities provider’s stock after purchasing an additional 4,501 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Southern were worth $7,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SO. BKM Wealth Management LLC purchased a new position in Southern during the fourth quarter valued at $34,000. Valley National Advisers Inc. lifted its position in Southern by 63.9% during the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 205 shares in the last quarter. Atticus Wealth Management LLC lifted its position in Southern by 30.4% during the third quarter. Atticus Wealth Management LLC now owns 652 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 152 shares in the last quarter. Larson Financial Group LLC lifted its position in Southern by 62.5% during the third quarter. Larson Financial Group LLC now owns 689 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 265 shares in the last quarter. Finally, Cetera Trust Company N.A bought a new stake in Southern during the fourth quarter valued at about $46,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Southern Trading Down 0.8 %

Shares of NYSE:SO traded down $0.60 during trading hours on Wednesday, hitting $79.18. 1,195,535 shares of the company’s stock traded hands, compared to its average volume of 4,786,621. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The firm has a market capitalization of $86.67 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 4.41 and a beta of 0.48. The business has a fifty day moving average price of $72.89 and a 200-day moving average price of $70.62. The Southern Company has a 1 year low of $61.56 and a 1 year high of $80.14.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. Southern’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities analysts expect that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, May 17th. This represents a $2.88 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Southern’s previous quarterly dividend of $0.70. Southern’s dividend payout ratio is currently 74.42%.

Insiders Place Their Bets

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the sale, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at $9,117,660.16. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on SO shares. Wells Fargo & Company raised their price target on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Barclays lifted their target price on Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Mizuho lifted their target price on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 target price (up from $72.00) on shares of Southern in a report on Monday, April 1st. Finally, UBS Group cut Southern from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $76.00 in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $75.73.

Get Our Latest Analysis on SO

Southern Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Southern (NYSE:SO)

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