Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Southern Co (NYSE:SO) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,476 shares of the utilities provider’s stock after selling 4,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Southern were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in SO. AlphaMark Advisors LLC lifted its holdings in Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares in the last quarter. South Texas Money Management Ltd. lifted its holdings in Southern by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 19 shares in the last quarter. WMS Partners LLC lifted its holdings in Southern by 0.6% in the 2nd quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 25 shares in the last quarter. Sfmg LLC lifted its holdings in Southern by 0.5% in the 2nd quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 29 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. lifted its holdings in Southern by 1.2% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 53.68% of the company’s stock.
Shares of Southern Co (SO) opened at $44.44 on Friday. Southern Co has a 52 week low of $44.26 and a 52 week high of $53.51. The stock has a market capitalization of $45,062.90, a price-to-earnings ratio of 79.36, a price-to-earnings-growth ratio of 3.32 and a beta of 0.14. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73.
Southern (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. sell-side analysts anticipate that Southern Co will post 2.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.22%. Southern’s payout ratio is 414.29%.
A number of brokerages have weighed in on SO. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Bank of America reaffirmed an “underperform” rating and issued a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. SunTrust Banks reaffirmed a “hold” rating and issued a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Mizuho reaffirmed a “buy” rating and issued a $55.00 target price on shares of Southern in a research note on Friday, December 8th. Finally, Citigroup reaffirmed a “sell” rating and issued a $44.00 target price (up from $43.00) on shares of Southern in a research note on Tuesday, October 3rd. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Southern currently has an average rating of “Hold” and a consensus price target of $51.07.
In related news, EVP Christopher C. Womack sold 46,641 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $53.00, for a total transaction of $2,471,973.00. Following the completion of the sale, the executive vice president now directly owns 56,799 shares of the company’s stock, valued at approximately $3,010,347. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.28, for a total value of $270,662.40. Following the sale, the insider now directly owns 7,474 shares of the company’s stock, valued at $398,214.72. The disclosure for this sale can be found here. Insiders have sold a total of 98,662 shares of company stock valued at $5,207,038 over the last three months. Corporate insiders own 1.00% of the company’s stock.
Southern Company Profile
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.
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