Trustmark National Bank Trust Department Has $5.57 Million Position in Southern Company (The) (SO)

Trustmark National Bank Trust Department lessened its stake in shares of Southern Company (The) (NYSE:SO) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,264 shares of the utilities provider’s stock after selling 5,263 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Southern Company (The) were worth $5,567,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Quantitative Investment Management LLC lifted its position in shares of Southern Company (The) by 38.2% during the 2nd quarter. Quantitative Investment Management LLC now owns 92,700 shares of the utilities provider’s stock worth $4,438,000 after buying an additional 25,600 shares during the period. New York State Common Retirement Fund lifted its position in shares of Southern Company (The) by 2.3% during the 2nd quarter. New York State Common Retirement Fund now owns 2,570,500 shares of the utilities provider’s stock worth $123,076,000 after buying an additional 58,699 shares during the period. Davidson Investment Advisors bought a new position in shares of Southern Company (The) during the 2nd quarter worth approximately $3,495,000. Magellan Asset Management Ltd lifted its position in shares of Southern Company (The) by 14.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 373,029 shares of the utilities provider’s stock worth $17,861,000 after buying an additional 47,578 shares during the period. Finally, Ken Stern & Associates Inc. lifted its position in shares of Southern Company (The) by 5.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 6,221 shares of the utilities provider’s stock worth $300,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 53.14% of the company’s stock.

Several research firms recently commented on SO. Bank of America Corporation restated an “underperform” rating and set a $51.00 target price on shares of Southern Company (The) in a research report on Tuesday, October 24th. Royal Bank Of Canada restated a “hold” rating and set a $53.00 target price on shares of Southern Company (The) in a research report on Monday, July 31st. J P Morgan Chase & Co began coverage on Southern Company (The) in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 target price for the company. BidaskClub downgraded Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.72.

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In other news, insider Art P. Beattie sold 46,941 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $52.50, for a total value of $2,464,402.50. Following the completion of the transaction, the insider now directly owns 59,494 shares in the company, valued at approximately $3,123,435. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William P. Bowers sold 85,151 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 162,092 shares of company stock valued at $8,287,353 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.06). Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, November 17th. Southern Company (The)’s payout ratio is 346.27%.

About Southern Company (The)

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.

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

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