Los Angeles Capital Management LLC Has $3.32 Million Stock Holdings in Southern Company (The) $SO

Los Angeles Capital Management LLC lessened its holdings in Southern Company (The) (NYSE:SO) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,867 shares of the utilities provider’s stock after selling 5,979 shares during the period. Los Angeles Capital Management LLC’s holdings in Southern were worth $3,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strive Asset Management LLC purchased a new stake in shares of Southern during the third quarter worth $37,000. Spirepoint Private Client LLC raised its holdings in shares of Southern by 13.3% during the fourth quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock worth $8,513,000 after acquiring an additional 11,460 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Southern during the third quarter worth $1,584,000. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of Southern by 243.3% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider’s stock worth $1,815,000 after acquiring an additional 14,753 shares in the last quarter. Finally, Marble Wealth LLC purchased a new stake in shares of Southern during the fourth quarter worth $4,443,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Transactions at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SO has been the subject of several recent research reports. Citigroup reiterated a “buy” rating on shares of Southern in a report on Friday, April 10th. Truist Financial cut their price objective on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a report on Friday, May 29th. Jefferies Financial Group reiterated a “hold” rating and set a $102.00 price objective on shares of Southern in a report on Monday, February 23rd. Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, TD Cowen increased their price objective on Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Southern currently has an average rating of “Hold” and an average target price of $99.38.

Southern Price Performance

NYSE SO opened at $92.93 on Wednesday. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83. The stock’s 50-day moving average is $94.13 and its two-hundred day moving average is $91.87. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market cap of $104.76 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.34.

Southern (NYSE:SO) last posted its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were paid a $0.76 dividend. The ex-dividend date was Monday, May 18th. This is a boost from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern’s dividend payout ratio is presently 77.35%.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.