Daiwa Securities Group Inc. Acquires 5,768 Shares of Southern Company (The) $SO

Daiwa Securities Group Inc. increased its position in Southern Company (The) (NYSE:SO) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 180,107 shares of the utilities provider’s stock after buying an additional 5,768 shares during the period. Daiwa Securities Group Inc.’s holdings in Southern were worth $15,705,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SO. Empowered Funds LLC boosted its holdings in Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider’s stock worth $3,127,000 after buying an additional 5,067 shares during the period. Schnieders Capital Management LLC. boosted its holdings in Southern by 0.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider’s stock worth $5,438,000 after buying an additional 393 shares during the period. WINTON GROUP Ltd bought a new position in Southern in the 2nd quarter worth $655,000. Sei Investments Co. boosted its holdings in Southern by 11.5% in the 2nd quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider’s stock worth $41,320,000 after buying an additional 46,504 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Southern by 2.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider’s stock worth $47,268,000 after buying an additional 13,392 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Stock Up 1.2%

Shares of SO stock opened at $92.74 on Friday. The stock has a market cap of $104.54 billion, a P/E ratio of 23.60, a PEG ratio of 2.77 and a beta of 0.34. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The company’s fifty day simple moving average is $94.26 and its two-hundred day simple moving average is $91.83.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. Analysts predict that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be given a dividend of $0.76 per share. The ex-dividend date is Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. This is a positive change from Southern’s previous quarterly dividend of $0.74. Southern’s dividend payout ratio is currently 77.35%.

Analyst Ratings Changes

Several research analysts recently weighed in on SO shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $87.00 target price on shares of Southern in a report on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Southern in a report on Friday, May 1st. Evercore upgraded shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price target on the stock in a research note on Thursday, March 5th. Citigroup reiterated a “buy” rating on shares of Southern in a research note on Friday, April 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Southern has a consensus rating of “Hold” and a consensus price target of $99.38.

Insider Activity

In other news, EVP Christopher Cummiskey sold 6,669 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. This represents a 17.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.