CHICAGO TRUST Co NA lowered its stake in Southern Co (NYSE:SO) by 37.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,615 shares of the utilities provider’s stock after selling 5,087 shares during the period. CHICAGO TRUST Co NA’s holdings in Southern were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SO. Pettyjohn Wood & White Inc. raised its holdings in shares of Southern by 0.3% during the second quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock worth $3,366,000 after purchasing an additional 175 shares during the last quarter. Confluence Wealth Management LLC raised its holdings in shares of Southern by 2.2% during the second quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock worth $445,000 after purchasing an additional 175 shares during the last quarter. 6 Meridian raised its holdings in shares of Southern by 1.8% during the second quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock worth $568,000 after purchasing an additional 181 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Southern by 0.8% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock worth $1,296,000 after purchasing an additional 186 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its holdings in shares of Southern by 1.9% during the second quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 195 shares during the last quarter. 58.36% of the stock is owned by institutional investors and hedge funds.

In other Southern news, CEO Stephen E. Kuczynski sold 2,000 shares of Southern stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $58.28, for a total value of $116,560.00. Following the completion of the transaction, the chief executive officer now owns 69,772 shares of the company’s stock, valued at $4,066,312.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $58.16, for a total transaction of $1,454,000.00. Following the completion of the transaction, the executive vice president now directly owns 67,655 shares of the company’s stock, valued at approximately $3,934,814.80. The disclosure for this sale can be found here. Insiders sold 202,533 shares of company stock valued at $12,386,567 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

SO has been the subject of several recent research reports. Bank of America raised their target price on shares of Southern from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. UBS Group raised their target price on shares of Southern from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. ValuEngine cut shares of Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays reissued a “hold” rating and set a $57.00 target price on shares of Southern in a report on Wednesday, June 19th. Finally, SunTrust Banks set a $59.00 target price on shares of Southern and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Southern has a consensus rating of “Hold” and a consensus price target of $55.70.

SO traded up $0.54 on Wednesday, reaching $61.90. The stock had a trading volume of 2,839,597 shares, compared to its average volume of 4,643,392. Southern Co has a 12-month low of $42.50 and a 12-month high of $62.36. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 1.33. The business’s 50-day moving average price is $60.05 and its two-hundred day moving average price is $55.84. The company has a market cap of $64.55 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 4.53 and a beta of 0.16.

Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Southern had a net margin of 20.18% and a return on equity of 10.04%. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, analysts predict that Southern Co will post 3.04 earnings per share for the current year.

Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

Further Reading: Outperform Rating

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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