Southern Company (The) (SO) Position Lowered by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its position in shares of Southern Company (The) (NYSE:SO) by 62.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,458 shares of the utilities provider’s stock after selling 17,510 shares during the period. Great Lakes Advisors LLC’s holdings in Southern Company (The) were worth $521,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SO. Norges Bank acquired a new stake in Southern Company (The) during the fourth quarter worth about $387,991,000. Ameriprise Financial Inc. boosted its stake in Southern Company (The) by 205.4% in the first quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock worth $438,168,000 after buying an additional 5,920,212 shares during the last quarter. Luminus Management LLC acquired a new stake in Southern Company (The) during the fourth quarter worth about $51,338,000. Canada Pension Plan Investment Board boosted its stake in Southern Company (The) by 876.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,074,910 shares of the utilities provider’s stock worth $53,509,000 after buying an additional 964,800 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Southern Company (The) by 20.3% in the first quarter. Swiss National Bank now owns 4,978,424 shares of the utilities provider’s stock worth $247,826,000 after buying an additional 841,100 shares during the last quarter. 53.87% of the stock is owned by institutional investors.

Southern Company (NYSE:SO) opened at 47.04 on Tuesday. The firm’s 50-day moving average price is $50.42 and its 200-day moving average price is $49.72. Southern Company has a 1-year low of $46.20 and a 1-year high of $54.64. The company has a market cap of $46.79 billion, a price-to-earnings ratio of 17.59 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.08. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.58 billion. Southern Company (The) had a return on equity of 11.37% and a net margin of 12.38%. The business’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share. Equities research analysts forecast that Southern Company will post $2.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.93%. Southern Company (The)’s dividend payout ratio is currently 85.29%.

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Several research firms recently weighed in on SO. Zacks Investment Research cut Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Barclays PLC reissued an “overweight” rating and set a $56.00 price target (up from $53.00) on shares of Southern Company (The) in a report on Sunday, April 23rd. Morgan Stanley lifted their price target on Southern Company (The) from $50.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Deutsche Bank AG dropped their price target on Southern Company (The) from $52.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, April 11th. Finally, BidaskClub cut Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $51.50.

In other Southern Company (The) news, insider Art P. Beattie sold 46,940 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $2,417,410.00. Following the sale, the insider now owns 59,493 shares in the company, valued at $3,063,889.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $51.28, for a total value of $256,400.00. Following the sale, the insider now owns 7,394 shares in the company, valued at approximately $379,164.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,549 shares of company stock worth $7,395,190. Company insiders own 0.74% of the company’s stock.

Southern Company (The) 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.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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