Capital International Inc. CA Buys 42,286 Shares of Southern Company (The) $SO

Capital International Inc. CA grew its stake in Southern Company (The) (NYSE:SO) by 8.8% in the 4th quarter, Holdings Channel reports. The firm owned 523,474 shares of the utilities provider’s stock after purchasing an additional 42,286 shares during the period. Capital International Inc. CA’s holdings in Southern were worth $45,647,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Strive Asset Management LLC purchased a new stake in shares of Southern in the 3rd quarter worth about $37,000. Spirepoint Private Client LLC grew its position in shares of Southern by 13.3% in the 4th quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock worth $8,513,000 after buying an additional 11,460 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Southern by 64.1% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,506 shares of the utilities provider’s stock worth $6,777,000 after buying an additional 27,920 shares during the period. Caprock Group LLC purchased a new stake in shares of Southern in the 3rd quarter worth about $1,584,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in shares of Southern by 243.3% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider’s stock worth $1,815,000 after buying an additional 14,753 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. This represents a 17.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SO shares. Evercore raised shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 target price on the stock in a research report on Thursday, March 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Southern in a research report on Friday, May 1st. TD Cowen upped their target price on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Scotiabank upped their target price on shares of Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company set a $96.00 target price on shares of Southern and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.38.

Southern Stock Performance

Shares of SO stock opened at $92.74 on Friday. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company’s 50-day moving average is $94.26 and its 200 day moving average is $91.83. The company has a market capitalization of $104.54 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the prior year, the firm posted $1.23 EPS. Southern’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that Southern Company will post 4.58 EPS for the current fiscal year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a dividend of $0.76 per share. This is a positive change from Southern’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.04 annualized dividend and a yield of 3.3%. Southern’s payout ratio is currently 77.35%.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.