Southern Co (SO) Shares Sold by Associated Banc Corp

Associated Banc Corp reduced its stake in Southern Co (NYSE:SO) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,104 shares of the utilities provider’s stock after selling 2,425 shares during the period. Associated Banc Corp’s holdings in Southern were worth $5,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NuWave Investment Management LLC acquired a new stake in Southern in the 4th quarter valued at $574,000. Wealthstreet Investment Advisors LLC acquired a new stake in Southern in the 4th quarter valued at $269,000. Trilogy Capital Inc. acquired a new stake in Southern in the 4th quarter valued at $498,000. Gradient Investments LLC increased its holdings in Southern by 23.8% in the 4th quarter. Gradient Investments LLC now owns 6,257 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Southern by 1.3% in the 4th quarter. Swiss National Bank now owns 4,844,624 shares of the utilities provider’s stock valued at $232,978,000 after purchasing an additional 64,200 shares in the last quarter. Hedge funds and other institutional investors own 53.64% of the company’s stock.

Southern Co (SO) opened at $44.33 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. The firm has a market cap of $44,490.00, a PE ratio of 79.16, a price-to-earnings-growth ratio of 3.29 and a beta of 0.03. Southern Co has a 12-month low of $42.63 and a 12-month high of $53.51.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.32 dividend on an annualized basis and a yield of 5.23%. Southern’s payout ratio is currently 414.29%.

Several brokerages recently issued reports on SO. JPMorgan Chase & Co. began coverage on Southern in a report on Friday, January 12th. They issued an “underweight” rating and a $46.00 price target for the company. SunTrust Banks reiterated a “hold” rating and issued a $52.00 price target on shares of Southern in a report on Friday, October 20th. Mizuho reiterated a “buy” rating and issued a $52.00 price target on shares of Southern in a report on Tuesday, December 26th. Bank of America reiterated an “underperform” rating and issued a $51.00 price target on shares of Southern in a report on Tuesday, October 24th. Finally, ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $50.50.

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Southern 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 (NYSE:SO)

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