California Public Employees Retirement System Has $116.84 Million Holdings in Southern Company (The) (SO)

California Public Employees Retirement System reduced its position in Southern Company (The) (NYSE:SO) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,440,328 shares of the utilities provider’s stock after selling 24,600 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Southern Company (The) worth $116,843,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Woodley Farra Manion Portfolio Management Inc. lifted its position in shares of Southern Company (The) by 0.8% during the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 72,708 shares of the utilities provider’s stock worth $3,481,000 after purchasing an additional 593 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Southern Company (The) by 9.0% during the second quarter. MML Investors Services LLC now owns 109,444 shares of the utilities provider’s stock worth $5,240,000 after purchasing an additional 9,041 shares during the last quarter. TIAA FSB bought a new position in shares of Southern Company (The) during the second quarter worth about $2,861,000. Vanguard Group Inc. lifted its position in shares of Southern Company (The) by 3.3% during the second quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock worth $3,402,047,000 after purchasing an additional 2,295,466 shares during the last quarter. Finally, Biondo Investment Advisors LLC lifted its position in shares of Southern Company (The) by 5.2% during the second quarter. Biondo Investment Advisors LLC now owns 75,666 shares of the utilities provider’s stock worth $3,666,000 after purchasing an additional 3,754 shares during the last quarter. 53.14% of the stock is owned by institutional investors.

Several equities analysts have recently commented on SO shares. Barclays PLC reaffirmed a “buy” rating and set a $54.00 price target 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 price target on shares of Southern Company (The) in a research report on Wednesday, July 19th. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $52.00 in a research report on Tuesday, August 1st. Mizuho raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, September 5th. Finally, Guggenheim raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $56.00 in a research report on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.72.

In other Southern Company (The) news, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.28, for a total value of $261,400.00. Following the sale, the insider now owns 7,394 shares in the company, valued at $386,558.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 162,092 shares of company stock worth $8,287,353 in the last 90 days. 1.00% of the stock is owned by company insiders.

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Shares of Southern Company (NYSE SO) opened at $52.44 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.53 and a current ratio of 0.73. The company has a market cap of $53,443.20, a P/E ratio of 19.36, a P/E/G ratio of 4.81 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the business earned $1.27 earnings per share. Southern Company (The)’s revenue was down 1.0% compared to the same quarter last year. research analysts forecast that Southern Company will post 2.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be paid a $0.58 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.32 annualized dividend and a dividend yield of 4.42%. 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.

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

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