Fieldpoint Private Securities LLC bought a new position in shares of Southern Co (NYSE:SO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,399 shares of the utilities provider’s stock, valued at approximately $118,000.
Several other large investors have also made changes to their positions in SO. Roosevelt Investment Group Inc. lifted its holdings in shares of Southern by 759.1% during the 1st quarter. Roosevelt Investment Group Inc. now owns 56,626 shares of the utilities provider’s stock worth $2,819,000 after acquiring an additional 50,035 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Southern by 1.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 78,407 shares of the utilities provider’s stock valued at $3,903,000 after purchasing an additional 1,110 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Southern by 1.6% in the 1st quarter. Mackenzie Financial Corp now owns 18,102 shares of the utilities provider’s stock valued at $901,000 after purchasing an additional 279 shares during the last quarter. Vanguard Group Inc. lifted its stake in Southern by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after purchasing an additional 2,688,854 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Southern in the 1st quarter valued at approximately $3,741,000. Hedge funds and other institutional investors own 53.66% of the company’s stock.
In other news, CEO William P. Bowers sold 85,151 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann P. Daiss sold 5,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total transaction of $261,400.00. Following the sale, the insider now owns 7,394 shares of the company’s stock, valued at $386,558.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,813 shares of company stock valued at $11,029,988. 0.74% of the stock is currently owned by corporate insiders.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was down 1.0% on a year-over-year basis. equities research analysts predict that Southern Co will post 2.96 earnings per share for the current 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 dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Friday, November 17th. Southern’s dividend payout ratio (DPR) is presently 414.29%.
SO has been the subject of several research reports. Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, September 5th. SunTrust Banks reissued a “hold” rating and issued a $52.00 price objective on shares of Southern in a research note on Friday, October 20th. Finally, KeyCorp restated a “hold” rating on shares of Southern in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.92.
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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