6,128 Southern Company (The) $SO Shares Sold by Southern Financial Group LLC

Southern Financial Group LLC lowered its holdings in Southern Company (The) (NYSE:SO) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360,304 shares of the utilities provider’s stock after selling 6,128 shares during the quarter. Southern accounts for 8.2% of Southern Financial Group LLC’s holdings, making the stock its 7th biggest position. Southern Financial Group LLC’s holdings in Southern were worth $29,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in Southern by 4.9% during the first quarter. Bank of America Corp DE now owns 8,380,592 shares of the utilities provider’s stock worth $808,895,000 after buying an additional 392,210 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Southern in the second quarter worth about $737,256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Southern by 9.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,681,674 shares of the utilities provider’s stock valued at $543,793,000 after purchasing an additional 508,149 shares in the last quarter. Swiss National Bank raised its holdings in shares of Southern by 7.2% during the 1st quarter. Swiss National Bank now owns 3,231,400 shares of the utilities provider’s stock worth $311,895,000 after acquiring an additional 216,900 shares during the period. Finally, National Pension Service increased its holdings in shares of Southern by 1.9% during the 2nd quarter. National Pension Service now owns 2,932,978 shares of the utilities provider’s stock worth $280,715,000 after buying an additional 54,111 shares during the last quarter. 64.10% of the stock is owned by institutional investors and hedge funds.

Southern Trading Down 0.8%

Shares of SO opened at $93.02 on Thursday. The firm’s 50-day moving average is $88.02 and its two-hundred day moving average is $92.44. Southern Company has a twelve month low of $81.69 and a twelve month high of $99.58. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $107.01 billion, a P/E ratio of 22.31, a PEG ratio of 2.47 and a beta of 0.30.

Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 16th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 16th. Southern’s payout ratio is presently 72.90%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SO. Royal Bank Of Canada dropped their price target on shares of Southern from $101.00 to $98.00 in a research report on Monday, October 26th. Barclays dropped their price objective on shares of Southern from $101.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern in a report on Tuesday, October 27th. The Goldman Sachs Group decreased their price target on shares of Southern from $103.00 to $101.00 in a research note on Thursday, October 15th. Finally, Morgan Stanley dropped their target price on Southern from $85.00 to $84.00 and set an “underweight” rating on the stock in a report on Wednesday, October 21st. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.24.

Southern Profile

Southern Company (NYSE: SO) is an energy holding company headquartered in Atlanta, Georgia. Through its subsidiaries, the company generates, transmits, distributes and sells electricity, while also providing natural gas distribution and related energy services.

Southern’s electric utility operations include Alabama Power, Georgia Power and Mississippi Power, which serve customers across Alabama, Georgia and Mississippi. The company’s generation portfolio includes nuclear, natural gas, coal, hydroelectric and renewable energy resources.