Asahi Life Asset Management CO. LTD. Takes Position in Southern Company (The) (NYSE:SO)

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Southern Company (The) (NYSE:SO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,590 shares of the utilities provider's stock, valued at approximately $514,000.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of Southern by 1.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 19,159 shares of the utilities provider's stock valued at $1,762,000 after buying an additional 194 shares during the period. Lokken Investment Group LLC lifted its holdings in shares of Southern by 4.6% in the 1st quarter. Lokken Investment Group LLC now owns 4,961 shares of the utilities provider's stock valued at $456,000 after buying an additional 218 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Southern by 0.7% in the 1st quarter. Apollon Wealth Management LLC now owns 73,379 shares of the utilities provider's stock valued at $6,747,000 after buying an additional 484 shares during the period. Signaturefd LLC lifted its holdings in shares of Southern by 3.6% in the 1st quarter. Signaturefd LLC now owns 50,501 shares of the utilities provider's stock valued at $4,644,000 after buying an additional 1,741 shares during the period. Finally, Aurora Investment Counsel acquired a new position in shares of Southern in the 1st quarter valued at about $2,529,000. Hedge funds and other institutional investors own 64.10% of the company's stock.

Southern Price Performance

Shares of Southern stock traded up $0.10 during mid-day trading on Thursday, reaching $93.40. 4,489,163 shares of the stock traded hands, compared to its average volume of 4,734,665. The business has a 50-day moving average of $89.96 and a 200 day moving average of $88.43. Southern Company has a fifty-two week low of $80.46 and a fifty-two week high of $94.45. The stock has a market capitalization of $102.65 billion, a PE ratio of 22.29, a PEG ratio of 3.23 and a beta of 0.38. The company has a quick ratio of 0.65, a current ratio of 0.86 and a debt-to-equity ratio of 1.69.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Southern had a return on equity of 12.70% and a net margin of 16.54%. The business had revenue of $7.78 billion during the quarter, compared to analysts' expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business's revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Southern Company will post 4.29 EPS for the current year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Southern's previous quarterly dividend of $0.72. Southern's dividend payout ratio is presently 70.64%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SO. KeyCorp cut Southern from a "sector weight" rating to an "underweight" rating and set a $78.00 price objective for the company. in a report on Wednesday, May 14th. Guggenheim reissued a "neutral" rating and issued a $93.00 price objective on shares of Southern in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on Southern from $91.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. upped their price target on Southern from $94.00 to $97.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Jefferies Financial Group raised Southern from a "hold" rating to a "buy" rating and reduced their price target for the stock from $102.00 to $100.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Southern currently has a consensus rating of "Hold" and a consensus price target of $93.20.

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.