Parsons Capital Management Inc. RI Sells 1,450 Shares of Southern Company (The) (SO)

Parsons Capital Management Inc. RI cut its stake in shares of Southern Company (The) (NYSE:SO) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,433 shares of the utilities provider’s stock after selling 1,450 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Southern were worth $1,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bridgeworth LLC raised its position in shares of Southern by 1.5% in the 1st quarter. Bridgeworth LLC now owns 144,465 shares of the utilities provider’s stock worth $7,281,000 after acquiring an additional 2,187 shares in the last quarter. Shoker Investment Counsel Inc. raised its position in shares of Southern by 9.4% in the 1st quarter. Shoker Investment Counsel Inc. now owns 7,086 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 611 shares in the last quarter. Cibc World Markets Corp raised its position in shares of Southern by 41.1% in the 1st quarter. Cibc World Markets Corp now owns 450,504 shares of the utilities provider’s stock worth $22,426,000 after acquiring an additional 131,244 shares in the last quarter. WBI Investments Inc. bought a new position in shares of Southern in the 1st quarter worth about $555,000. Finally, IFM Investors Pty Ltd raised its position in shares of Southern by 4.6% in the 1st quarter. IFM Investors Pty Ltd now owns 12,559 shares of the utilities provider’s stock worth $625,000 after acquiring an additional 553 shares in the last quarter. 52.64% of the stock is currently owned by hedge funds and other institutional investors.

In other Southern news, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at approximately $386,558.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction that occurred on 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 213,813 shares of company stock valued at $11,029,988 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Several research analysts have recently weighed in on SO shares. Zacks Investment Research lowered Southern from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Deutsche Bank AG raised Southern from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Guggenheim raised Southern from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Mizuho raised Southern from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $53.00 target price on shares of Southern in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Southern currently has an average rating of “Hold” and a consensus price target of $49.72.

Shares of Southern Company (SO) traded up $0.03 on Monday, reaching $51.39. The company’s stock had a trading volume of 1,155,700 shares, compared to its average volume of 4,670,998. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The company has a market cap of $51,576.44, a price-to-earnings ratio of 18.69, a P/E/G ratio of 4.64 and a beta of 0.15. Southern Company has a 1 year low of $46.20 and a 1 year high of $53.51.

Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates 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 in the previous year, the company posted $1.27 EPS. analysts expect that Southern Company will post 2.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Friday, November 17th. Southern’s dividend payout ratio is currently 414.29%.

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Southern 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 (NYSE:SO)

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