Roosevelt Investment Group Inc. Has $2.62 Million Stake in Southern Company (The) (SO)
Roosevelt Investment Group Inc. decreased its position in Southern Company (The) (NYSE:SO) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,402 shares of the utilities provider’s stock after selling 1,622 shares during the period. Roosevelt Investment Group Inc.’s holdings in Southern were worth $2,624,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC lifted its holdings in shares of Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 14 shares during the last quarter. South Texas Money Management Ltd. lifted its holdings in shares of Southern by 0.3% in the 2nd quarter. South Texas Money Management Ltd. now owns 7,084 shares of the utilities provider’s stock worth $339,000 after acquiring an additional 19 shares during the last quarter. WMS Partners LLC lifted its holdings in shares of Southern by 0.6% in the 2nd quarter. WMS Partners LLC now owns 4,387 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 25 shares during the last quarter. Regal Investment Advisors LLC lifted its holdings in Southern by 0.4% during the 1st quarter. Regal Investment Advisors LLC now owns 7,990 shares of the utilities provider’s stock worth $398,000 after buying an additional 29 shares in the last quarter. Finally, Sfmg LLC lifted its holdings in Southern by 0.5% during the 2nd quarter. Sfmg LLC now owns 6,435 shares of the utilities provider’s stock worth $308,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 53.78% of the company’s stock.
In other Southern news, EVP Christopher C. Womack sold 46,641 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the sale, the executive vice president now directly owns 56,799 shares of the company’s stock, valued at approximately $3,010,347. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the 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 completion of the sale, 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. Insiders own 0.74% of the company’s stock.
Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the firm posted $1.27 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. research analysts expect that Southern Company will post 2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s dividend payout ratio is presently 414.29%.
SO has been the topic of a number of research reports. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Guggenheim upgraded shares of Southern from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $56.00 in a report on Thursday, September 14th. Mizuho upgraded shares of Southern 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. SunTrust Banks reiterated a “hold” rating and set a $52.00 target price on shares of Southern in a report on Friday, October 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Southern in a report on Friday, September 1st. Three investment 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. The company presently has an average rating of “Hold” and a consensus target price of $49.85.
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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