Tokio Marine Asset Management Co. Ltd. Has $4.40 Million Holdings in The Southern Company (NYSE:SO)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of The Southern Company (NYSE:SO) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,836 shares of the utilities provider’s stock after purchasing an additional 1,871 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Southern were worth $4,404,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its position in Southern by 45.9% in the 1st quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock worth $1,721,382,000 after purchasing an additional 7,550,570 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Southern by 8,741.6% during the third quarter. International Assets Investment Management LLC now owns 1,502,813 shares of the utilities provider’s stock worth $135,524,000 after acquiring an additional 1,485,816 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Southern by 2,719.7% during the second quarter. 1832 Asset Management L.P. now owns 872,373 shares of the utilities provider’s stock valued at $67,670,000 after acquiring an additional 841,435 shares during the period. Wulff Hansen & CO. increased its position in Southern by 7,657.0% in the second quarter. Wulff Hansen & CO. now owns 571,148 shares of the utilities provider’s stock worth $44,304,000 after purchasing an additional 563,785 shares during the period. Finally, Capital Research Global Investors raised its holdings in Southern by 35.0% during the 1st quarter. Capital Research Global Investors now owns 1,929,980 shares of the utilities provider’s stock worth $138,457,000 after purchasing an additional 500,000 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SO. Morgan Stanley raised their target price on shares of Southern from $78.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Scotiabank lifted their target price on shares of Southern from $87.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Jefferies Financial Group started coverage on Southern in a report on Friday, September 20th. They issued a “hold” rating and a $94.00 price objective for the company. Finally, Guggenheim raised their target price on Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.27.

Insider Activity

In related news, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now directly owns 145,088 shares of the company’s stock, valued at approximately $13,005,688.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bryan D. Anderson sold 6,565 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $89.54, for a total value of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares in the company, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Southern Stock Down 0.3 %

Shares of SO stock traded down $0.23 during trading hours on Thursday, hitting $87.29. 160,400 shares of the company were exchanged, compared to its average volume of 4,428,575. The company has a market capitalization of $95.64 billion, a PE ratio of 20.35, a PEG ratio of 3.12 and a beta of 0.52. The Southern Company has a 52 week low of $65.80 and a 52 week high of $94.45. The business has a 50 day moving average of $89.91 and a two-hundred day moving average of $84.12. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

Southern (NYSE:SO) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.14 billion. Southern had a return on equity of 12.78% and a net margin of 17.87%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share. Analysts anticipate that The Southern Company will post 4.04 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.72 per share. The ex-dividend date is Monday, November 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.30%. Southern’s dividend payout ratio is currently 66.98%.

Southern Profile

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.