Associated Banc Corp Has $7.48 Million Stock Holdings in The Southern Company (NYSE:SO)

Associated Banc Corp trimmed its holdings in The Southern Company (NYSE:SOGet Rating) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,995 shares of the utilities provider’s stock after selling 2,124 shares during the period. Associated Banc Corp’s holdings in Southern were worth $7,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Keudell Morrison Wealth Management increased its stake in Southern by 1.2% during the 3rd quarter. Keudell Morrison Wealth Management now owns 18,794 shares of the utilities provider’s stock worth $1,165,000 after acquiring an additional 225 shares during the period. Avidian Wealth Solutions LLC acquired a new position in shares of Southern in the 3rd quarter valued at about $253,000. Pitcairn Co. acquired a new position in shares of Southern in the 3rd quarter valued at about $203,000. Creative Planning lifted its stake in shares of Southern by 2.8% in the 3rd quarter. Creative Planning now owns 230,887 shares of the utilities provider’s stock valued at $14,308,000 after purchasing an additional 6,348 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Southern by 9.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,261 shares of the utilities provider’s stock valued at $760,000 after purchasing an additional 1,032 shares during the period. 60.58% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on SO shares. Wells Fargo & Company upped their price target on Southern from $68.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. Credit Suisse Group started coverage on Southern in a research note on Monday, April 25th. They set an “underperform” rating and a $77.00 price target on the stock. StockNews.com started coverage on Southern in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley dropped their price target on Southern from $68.00 to $67.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 26th. Finally, Mizuho boosted their price objective on Southern from $67.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average target price of $73.67.

Shares of SO stock traded up $0.25 during trading on Friday, hitting $73.65. The company’s stock had a trading volume of 5,018,146 shares, compared to its average volume of 5,326,543. The company has a market cap of $78.26 billion, a PE ratio of 34.10, a P/E/G ratio of 5.19 and a beta of 0.48. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55. The business has a fifty day moving average of $72.72 and a 200-day moving average of $68.04. The Southern Company has a 52 week low of $60.12 and a 52 week high of $77.24.

Southern (NYSE:SOGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. Southern had a return on equity of 11.35% and a net margin of 10.09%. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Southern’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts predict that The Southern Company will post 3.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 6th. Shareholders of record on Monday, May 16th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $2.72 annualized dividend and a dividend yield of 3.69%. This is an increase from Southern’s previous quarterly dividend of $0.66. Southern’s dividend payout ratio is currently 122.22%.

In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $74.58, for a total transaction of $1,081,410.00. Following the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $8,597,880.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ann P. Daiss sold 7,500 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $67.47, for a total value of $506,025.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 344,516 shares of company stock worth $24,720,479. Company insiders own 0.43% of the company’s stock.

About Southern (Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.

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Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOGet Rating).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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