Nissay Asset Management Corp Japan ADV Grows Holdings in The Southern Company (NYSE:SO)

Nissay Asset Management Corp Japan ADV increased its position in shares of The Southern Company (NYSE:SO) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,854 shares of the utilities provider’s stock after purchasing an additional 757 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Southern were worth $11,129,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in Southern during the fourth quarter worth $25,000. YANKCOM Partnership bought a new position in Southern during the fourth quarter worth $26,000. WFA Asset Management Corp lifted its stake in Southern by 84.9% during the fourth quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 197 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Southern by 244.4% during the fourth quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 308 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Southern during the fourth quarter worth $35,000. 64.10% of the stock is currently owned by institutional investors.

Southern Price Performance

NYSE:SO opened at $85.16 on Thursday. The business’s 50-day moving average price is $90.03 and its 200 day moving average price is $87.22. The firm has a market cap of $93.60 billion, a P/E ratio of 21.24, a PEG ratio of 3.01 and a beta of 0.40. The Southern Company has a 52-week low of $76.64 and a 52-week high of $94.45. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 1.60.

Southern (NYSE:SO) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.17 billion. Southern had a return on equity of 12.23% and a net margin of 16.47%. Southern’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, sell-side analysts predict that The Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from Southern’s previous quarterly dividend of $0.72. Southern’s payout ratio is currently 70.64%.

Insider Activity

In other Southern news, EVP Martin Bernard Davis sold 1,125 shares of Southern stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.61, for a total transaction of $100,811.25. Following the transaction, the executive vice president now owns 102,090 shares of the company’s stock, valued at $9,148,284.90. The trade was a 1.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kimberly S. Greene sold 32,190 shares of Southern stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $93.12, for a total value of $2,997,532.80. Following the transaction, the chief executive officer now directly owns 106,819 shares in the company, valued at approximately $9,946,985.28. This trade represents a 23.16% decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Southern from $95.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Barclays raised their target price on Southern from $83.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 22nd. Morgan Stanley reiterated an “outperform” rating on shares of Southern in a research note on Thursday, March 20th. JPMorgan Chase & Co. upgraded Southern from an “underweight” rating to a “neutral” rating and set a $94.00 target price on the stock in a research note on Tuesday, April 8th. Finally, KeyCorp cut Southern from a “sector weight” rating to an “underweight” rating and set a $78.00 target price on the stock. in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.07.

Southern Company 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.