State Treasurer State of Michigan Purchases 1,300 Shares of Southern Company (The) (NYSE:SO)

State Treasurer State of Michigan boosted its stake in shares of Southern Company (The) (NYSE:SO) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,830 shares of the utilities provider’s stock after buying an additional 1,300 shares during the period. State Treasurer State of Michigan’s holdings in Southern Company (The) were worth $15,649,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Confluence Investment Management LLC increased its stake in Southern Company (The) by 9.7% in the first quarter. Confluence Investment Management LLC now owns 1,681,743 shares of the utilities provider’s stock worth $83,717,000 after buying an additional 149,174 shares during the period. Gierl Augustine Investment Management Inc increased its stake in Southern Company (The) by 8.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 72,041 shares of the utilities provider’s stock worth $3,586,000 after buying an additional 5,844 shares during the period. First National Bank of Omaha increased its stake in Southern Company (The) by 0.5% in the second quarter. First National Bank of Omaha now owns 15,070 shares of the utilities provider’s stock worth $721,000 after buying an additional 70 shares during the period. AlphaMark Advisors LLC increased its stake in Southern Company (The) by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,260 shares during the period. Finally, Stifel Financial Corp increased its stake in Southern Company (The) by 5.2% in the first quarter. Stifel Financial Corp now owns 1,640,131 shares of the utilities provider’s stock worth $81,543,000 after buying an additional 81,148 shares during the period. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Southern Company (NYSE SO) opened at 48.30 on Friday. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.73. The company’s 50-day moving average is $47.97 and its 200-day moving average is $49.46. The company has a market cap of $48.27 billion, a price-to-earnings ratio of 79.44 and a beta of 0.12.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be paid 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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Several equities analysts have recently issued reports on SO shares. Barclays PLC reaffirmed an “overweight” rating and issued a $56.00 price objective (up previously from $53.00) on shares of Southern Company (The) in a research note on Sunday, April 23rd. Zacks Investment Research cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 price objective (down previously from $56.00) on shares of Southern Company (The) in a research note on Thursday, May 4th. Morgan Stanley lifted their target price on shares of Southern Company (The) from $50.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Finally, BidaskClub cut shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.79.

In related news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the transaction, the executive vice president now directly owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of Southern Company (The) stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $51.28, for a total value of $256,400.00. Following the completion of the transaction, the insider now directly owns 7,394 shares in the company, valued at $379,164.32. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock worth $7,665,158 over the last three months. 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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