Adirondack Trust Co. reduced its stake in shares of Southern Company (The) (NYSE:SO) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,529 shares of the utilities provider’s stock after selling 340 shares during the quarter. Adirondack Trust Co.’s holdings in Southern Company (The) were worth $743,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in Southern Company (The) by 4.3% during the 2nd quarter. First Trust Advisors LP now owns 1,860,204 shares of the utilities provider’s stock worth $89,067,000 after acquiring an additional 76,428 shares in the last quarter. National Planning Corp raised its stake in Southern Company (The) by 7.6% during the 2nd quarter. National Planning Corp now owns 43,623 shares of the utilities provider’s stock worth $2,079,000 after acquiring an additional 3,081 shares in the last quarter. Bank of The Ozarks raised its stake in Southern Company (The) by 3.6% during the 2nd quarter. Bank of The Ozarks now owns 10,928 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 380 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Southern Company (The) by 6.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,354,373 shares of the utilities provider’s stock worth $160,608,000 after acquiring an additional 189,752 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in Southern Company (The) by 6.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 13,666 shares of the utilities provider’s stock worth $654,000 after acquiring an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

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In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Shares of Southern Company (NYSE:SO) opened at 49.14 on Friday. The stock has a 50 day moving average of $48.99 and a 200 day moving average of $49.45. The stock has a market cap of $49.11 billion, a P/E ratio of 80.82 and a beta of 0.13. Southern Company has a one year low of $46.20 and a one year high of $53.73.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. Southern Company (The)’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. Equities analysts expect that Southern Company will post $2.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.32 annualized dividend and a yield of 4.72%. Southern Company (The)’s payout ratio is 346.27%.

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $53.00 price target on shares of Southern Company (The) in a research note on Monday, July 31st. J P Morgan Chase & Co began coverage on shares of Southern Company (The) in a research note on Tuesday, August 8th. They issued an “overweight” rating and a $16.78 price objective on the stock. Credit Suisse Group upgraded shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Southern Company (The) from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Guggenheim upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Southern Company (The) has an average rating of “Hold” and a consensus target price of $49.29.

Southern Company (The) 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.

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

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