Boston Private Wealth LLC lowered its position in The Southern Company (NYSE:SO) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,966 shares of the utilities provider’s stock after selling 325 shares during the period. Boston Private Wealth LLC’s holdings in The Southern were worth $868,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SO. Alpha DNA Investment Management LLC bought a new position in shares of The Southern in the fourth quarter valued at approximately $26,000. Retirement Group LLC bought a new position in shares of The Southern in the fourth quarter valued at approximately $27,000. ShoreHaven Wealth Partners LLC bought a new position in shares of The Southern in the fourth quarter valued at approximately $29,000. Field & Main Bank lifted its holdings in shares of The Southern by 66.7% in the fourth quarter. Field & Main Bank now owns 500 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. Finally, Canton Hathaway LLC bought a new position in shares of The Southern in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 59.09% of the company’s stock.
NYSE:SO opened at $63.88 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average price of $64.45. The Southern Company has a 1 year low of $50.40 and a 1 year high of $66.93. The stock has a market capitalization of $67.69 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.93 and a beta of 0.44.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 7th. Investors of record on Monday, May 17th were paid a dividend of $0.66 per share. This is a positive change from The Southern’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Friday, May 14th. This represents a $2.64 annualized dividend and a yield of 4.13%. The Southern’s dividend payout ratio (DPR) is currently 81.23%.
In related news, insider Ann P. Daiss sold 5,549 shares of The Southern stock in a transaction on Monday, April 5th. The stock was sold at an average price of $62.75, for a total transaction of $348,199.75. Following the completion of the sale, the insider now owns 18,666 shares of the company’s stock, valued at $1,171,291.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Y. Kerr II sold 25,000 shares of The Southern stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $66.16, for a total value of $1,654,000.00. Following the sale, the executive vice president now directly owns 126,918 shares of the company’s stock, valued at approximately $8,396,894.88. The disclosure for this sale can be found here. Insiders have sold 42,474 shares of company stock valued at $2,778,346 in the last three months. 0.43% of the stock is owned by corporate insiders.
SO has been the topic of a number of recent research reports. KeyCorp raised their target price on The Southern from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. Wells Fargo & Company increased their price target on The Southern from $71.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Barclays increased their price target on The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Morgan Stanley decreased their price target on The Southern from $62.00 to $61.00 and set an “underweight” rating for the company in a research report on Tuesday, May 18th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of The Southern in a research report on Wednesday, May 19th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.08.
The 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 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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