QCI Asset Management Inc. NY raised its position in shares of Southern Company (The) (NYSE:SO) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,051 shares of the utilities provider’s stock after buying an additional 10,508 shares during the period. QCI Asset Management Inc. NY’s holdings in Southern were worth $9,388,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new stake in shares of Southern during the second quarter valued at approximately $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Southern during the third quarter valued at approximately $105,000. Monroe Bank & Trust MI grew its stake in shares of Southern by 17.9% during the second quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of Southern by 0.6% during the second quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of Southern by 15.3% during the first quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 302 shares during the last quarter. 53.78% of the stock is owned by institutional investors.
Shares of Southern Company (NYSE SO) traded up $0.24 during mid-day trading on Wednesday, reaching $50.60. 1,530,000 shares of the company’s stock were exchanged, compared to its average volume of 4,240,000. Southern Company has a 1 year low of $46.58 and a 1 year high of $53.51. The company has a market capitalization of $50,780.00, a PE ratio of 18.30, a PEG ratio of 4.54 and a beta of 0.13. 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 also recently disclosed 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 of this dividend is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.58%. Southern’s payout ratio is presently 414.29%.
SO has been the topic of several research analyst reports. J P Morgan Chase & Co initiated coverage on shares of Southern in a research note on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price target on the stock. BidaskClub cut shares of Southern from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Morgan Stanley set a $50.00 price target on shares of Southern and gave the company a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Southern from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Southern in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.72.
In other Southern news, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares of the company’s stock, valued at $398,214.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Over the last ninety days, insiders sold 213,813 shares of company stock worth $11,029,988. Insiders own 0.74% of the company’s stock.
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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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