Vident Investment Advisory LLC purchased a new stake in shares of Southern Company (The) (NYSE:SO) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,686 shares of the utilities provider’s stock, valued at approximately $525,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of SO. Chicago Partners Investment Group LLC bought a new position in Southern during the second quarter valued at about $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Southern during the third quarter valued at about $105,000. Monroe Bank & Trust MI grew its position in 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 buying an additional 350 shares during the period. AlphaMark Advisors LLC grew its position in 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 buying an additional 14 shares during the period. Finally, Barnett & Company Inc. boosted its position in Southern by 25.0% during the second quarter. Barnett & Company Inc. now owns 2,725 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 545 shares during the period. Institutional investors own 53.66% of the company’s stock.
A number of equities analysts have weighed in on SO shares. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Guggenheim upgraded shares of Southern from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $56.00 in a research report on Thursday, September 14th. Mizuho upgraded shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Tuesday, September 5th. SunTrust Banks reiterated a “hold” rating and set a $52.00 target price on shares of Southern in a research report on Friday, October 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Southern in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $49.92.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the business earned $1.27 earnings per share. Southern’s revenue was down 1.0% compared to the same quarter last year. analysts predict that Southern Company will post 2.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th were given a $0.58 dividend. The ex-dividend date was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.69%. Southern’s dividend payout ratio (DPR) is currently 414.29%.
In other news, EVP Christopher C. Womack sold 46,641 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the completion of the transaction, the executive vice president now directly owns 56,799 shares in the company, valued at $3,010,347. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the sale, the vice president now directly owns 26,000 shares in the company, valued at $1,356,160. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock valued at $11,029,988 over the last 90 days. 1.00% of the stock is owned by company insiders.
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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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