Southern Company (The) (SO) Shares Sold by Northern Trust Corp

Northern Trust Corp lowered its position in Southern Company (The) (NYSE:SO) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,938,969 shares of the utilities provider’s stock after selling 510,845 shares during the quarter. Northern Trust Corp owned approximately 1.19% of Southern Company (The) worth $571,638,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new position in Southern Company (The) in the second quarter worth approximately $100,000. Symmetry Partners LLC bought a new position in Southern Company (The) in the first quarter worth approximately $103,000. Stuart Chaussee & Associates Inc. boosted its position in Southern Company (The) by 358.8% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 1,740 shares in the last quarter. IHT Wealth Management LLC boosted its position in Southern Company (The) by 15.3% during the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 302 shares in the last quarter. Finally, Monroe Bank & Trust MI boosted its position in Southern Company (The) by 17.9% during the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 350 shares in the last quarter. 53.14% of the stock is currently owned by institutional investors.

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

SO has been the topic of several recent research reports. Barclays PLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Southern Company (The) in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Southern Company (The) in a research report on Wednesday, July 19th. Deutsche Bank AG raised Southern Company (The) from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $52.00 in a research report on Tuesday, August 1st. Mizuho raised Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, September 5th. Finally, Guggenheim raised Southern Company (The) from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Southern Company (The) presently has a consensus rating of “Hold” and an average price target of $49.72.

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Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.83%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.36%. Southern Company (The)’s payout ratio is currently 414.29%.

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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