Bank of The Ozarks Purchases 818 Shares of Southern Company (The) (NYSE:SO)

Bank of The Ozarks raised its position in shares of Southern Company (The) (NYSE:SO) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,548 shares of the utilities provider’s stock after buying an additional 818 shares during the period. Bank of The Ozarks’ holdings in Southern Company (The) were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Southern Company (The) by 205.4% in the first quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock worth $438,168,000 after buying an additional 5,920,212 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Southern Company (The) by 876.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,074,910 shares of the utilities provider’s stock worth $53,509,000 after buying an additional 964,800 shares in the last quarter. Swiss National Bank boosted its stake in shares of Southern Company (The) by 20.3% in the first quarter. Swiss National Bank now owns 4,978,424 shares of the utilities provider’s stock worth $247,826,000 after buying an additional 841,100 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Southern Company (The) during the first quarter worth approximately $27,230,000. Finally, Hexavest Inc. boosted its stake in shares of Southern Company (The) by 44.2% in the first quarter. Hexavest Inc. now owns 1,564,246 shares of the utilities provider’s stock worth $77,868,000 after buying an additional 479,553 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

Shares of Southern Company (NYSE:SO) traded up 0.79% during trading on Friday, hitting $48.30. 4,853,025 shares of the company were exchanged. The firm has a market capitalization of $48.27 billion, a PE ratio of 79.44 and a beta of 0.12. The firm’s 50-day moving average price is $47.97 and its 200 day moving average price is $49.46. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.73.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that Southern Company will post $2.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, August 17th. Southern Company (The)’s payout ratio is 346.27%.

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SO has been the subject of a number of research reports. Zacks Investment Research cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. BidaskClub cut shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Macquarie raised shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 target price for the company in a report on Monday, July 10th. Morgan Stanley reduced their price objective on shares of Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating for the company in a research note on Friday, June 23rd. Finally, Barclays PLC reissued an “overweight” rating and issued a $56.00 price objective (up from $53.00) on shares of Southern Company (The) in a research note on Sunday, April 23rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.79.

In other news, CEO Mark Lantrip sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the completion of the sale, the chief executive officer now owns 31,080 shares of the company’s stock, valued at $1,600,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock valued at $7,665,158 in the last ninety days. Insiders own 1.00% of the company’s stock.

Southern Company (The) Company Profile

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.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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