Advisor Partners LLC Sells 1,368 Shares of Southern Company (The) (SO)

Advisor Partners LLC decreased its stake in shares of Southern Company (The) (NYSE:SO) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,755 shares of the utilities provider’s stock after selling 1,368 shares during the quarter. Advisor Partners LLC owned approximately 1,769.08% of Southern worth $872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SO. Burney Co. boosted its position in shares of Southern by 3.1% during the 1st quarter. Burney Co. now owns 14,087 shares of the utilities provider’s stock worth $701,000 after acquiring an additional 421 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Southern during the 1st quarter worth about $531,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Southern by 0.4% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 51,740 shares of the utilities provider’s stock worth $2,576,000 after acquiring an additional 200 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its position in shares of Southern by 255.7% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 60,861 shares of the utilities provider’s stock worth $3,030,000 after acquiring an additional 43,749 shares in the last quarter. Finally, WMS Partners LLC acquired a new position in shares of Southern during the 1st quarter worth about $217,000. Institutional investors own 53.78% of the company’s stock.

SO has been the subject of several analyst reports. J P Morgan Chase & Co initiated coverage on Southern in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price objective for the company. BidaskClub cut Southern from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Morgan Stanley set a $50.00 target price on Southern and gave the company a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research raised Southern from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Southern in a research report on Friday, September 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.72.

In other news, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William P. Bowers sold 85,151 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was 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 have sold a total of 213,813 shares of company stock valued at $11,029,988 over the last ninety days. 1.00% of the stock is owned by insiders.

Shares of Southern Company (NYSE:SO) traded down $0.09 during midday trading on Friday, hitting $51.11. The company had a trading volume of 4,710,000 shares, compared to its average volume of 4,110,000. Southern Company has a 1 year low of $46.24 and a 1 year high of $53.51. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The firm has a market cap of $51,300.00, a PE ratio of 18.59, a PEG ratio of 4.61 and a beta of 0.13.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.54%. Southern’s payout ratio is 414.29%.

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About Southern

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 (NYSE:SO)

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