Security National Bank Takes Position in The Southern Company (NYSE:SO)
Security National Bank purchased a new stake in The Southern Company (NYSE:SO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,700 shares of the utilities provider’s stock, valued at approximately $354,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpha DNA Investment Management LLC purchased a new position in shares of The Southern in the fourth quarter valued at $26,000. Retirement Group LLC purchased a new position in shares of The Southern in the fourth quarter valued at $27,000. ShoreHaven Wealth Partners LLC purchased a new position in shares of The Southern in the fourth quarter valued at $29,000. Simon Quick Advisors LLC purchased a new position in shares of The Southern in the fourth quarter valued at $31,000. Finally, Flagship Private Wealth LLC purchased a new position in shares of The Southern in the fourth quarter valued at $31,000. Institutional investors own 57.62% of the company’s stock.
SO stock traded up $0.07 during mid-day trading on Thursday, hitting $62.87. 52,404 shares of the stock were exchanged, compared to its average volume of 3,999,714. The stock has a market capitalization of $66.43 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.56 and a beta of 0.39. The business has a fifty day moving average price of $59.90 and a 200 day moving average price of $59.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.90 and a quick ratio of 0.73. The Southern Company has a 12 month low of $50.40 and a 12 month high of $64.93.
The company also recently announced a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Tuesday, February 16th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, February 12th. The Southern’s dividend payout ratio is 82.32%.
In other news, insider Ann P. Daiss sold 5,549 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $62.75, for a total value of $348,199.75. Following the transaction, the insider now owns 18,666 shares in the company, valued at $1,171,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $59.41, for a total transaction of $148,525.00. Following the completion of the transaction, the chief executive officer now owns 99,151 shares in the company, valued at approximately $5,890,560.91. The disclosure for this sale can be found here. Insiders sold 13,049 shares of company stock worth $802,200 in the last 90 days. Company insiders own 0.39% of the company’s stock.
SO has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on The Southern from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, March 31st. Morgan Stanley lifted their price objective on The Southern from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Thursday, March 25th. Credit Suisse Group raised The Southern from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $61.00 to $68.00 in a research note on Monday, March 1st. Scotiabank raised The Southern from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $66.00 to $75.00 in a research note on Tuesday, December 15th. Finally, Evercore ISI lowered The Southern from an “in-line” rating to an “underperform” rating and set a $61.00 price objective for the company. in a research note on Thursday, January 21st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.60.
The Southern 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 and battery energy storage projects 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.
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