The Manufacturers Life Insurance Company Decreases Stake in Southern Company (The) (SO)

The Manufacturers Life Insurance Company cut its position in Southern Company (The) (NYSE:SO) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,655,754 shares of the utilities provider’s stock after selling 34,184 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of Southern Company (The) worth $79,277,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC bought a new stake in Southern Company (The) in the 2nd quarter valued at about $100,000. IHT Wealth Management LLC lifted its position in Southern Company (The) by 15.3% in the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 302 shares during the last quarter. Monroe Bank & Trust MI lifted its position in Southern Company (The) by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of Southern Company (The) by 115.7% during the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,260 shares in the last quarter. Finally, Ruggie Capital Group raised its position in shares of Southern Company (The) by 228.0% during the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock worth $128,000 after buying an additional 1,792 shares in the last quarter. Hedge funds and other institutional investors own 52.88% of the company’s stock.

Southern Company (SO) opened at $52.31 on Wednesday. The firm has a market cap of $52,008.00, a P/E ratio of 18.84, a PEG ratio of 4.68 and a beta of 0.15. 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 Company has a 1 year low of $46.20 and a 1 year high of $53.51.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. research analysts predict that Southern Company will post 2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, November 17th. Southern Company (The)’s dividend payout ratio (DPR) is currently 414.29%.

A number of analysts have commented on SO shares. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Jefferies Group LLC restated a “buy” rating and set a $56.00 price target (up from $55.00) on shares of Southern Company (The) in a research report on Tuesday, September 12th. KeyCorp restated a “hold” rating on shares of Southern Company (The) in a research report on Friday, September 1st. Mizuho upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, September 5th. Finally, Bank of America Corporation reiterated an “underperform” rating and issued a $51.00 target price on shares of Southern Company (The) in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.72.

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In related news, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total transaction of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares of the company’s stock, valued at $398,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.28, for a total transaction of $261,400.00. Following the transaction, the insider now directly owns 7,394 shares in the company, valued at $386,558.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,813 shares of company stock worth $11,029,988. 0.74% of the stock is currently owned by insiders.

About Southern Company (The)

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

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