People s United Financial Inc. reduced its holdings in Southern Co (NYSE:SO) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,452 shares of the utilities provider’s stock after selling 3,083 shares during the period. People s United Financial Inc.’s holdings in Southern were worth $1,327,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SO. Cognios Capital LLC raised its holdings in shares of Southern by 8.1% during the second quarter. Cognios Capital LLC now owns 48,864 shares of the utilities provider’s stock worth $2,261,000 after acquiring an additional 3,672 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Southern in the 2nd quarter valued at about $1,821,000. Barings LLC grew its position in shares of Southern by 34.3% in the 2nd quarter. Barings LLC now owns 28,747 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 7,341 shares during the period. KBC Group NV grew its position in shares of Southern by 9.5% in the 2nd quarter. KBC Group NV now owns 86,660 shares of the utilities provider’s stock valued at $4,013,000 after acquiring an additional 7,547 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Southern during the 2nd quarter worth about $4,904,000. Institutional investors and hedge funds own 56.58% of the company’s stock.
SO has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, October 9th. SunTrust Banks reaffirmed a “hold” rating and set a $48.00 price target on shares of Southern in a report on Thursday, November 8th. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 price target on the stock in a report on Wednesday, October 10th. ValuEngine raised shares of Southern from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, Morgan Stanley reduced their target price on shares of Southern from $45.00 to $44.00 and set a “sell” rating on the stock in a report on Friday, September 21st. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Southern currently has a consensus rating of “Hold” and an average target price of $46.54.
NYSE:SO opened at $46.98 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 0.72. Southern Co has a 52 week low of $42.38 and a 52 week high of $52.00. The firm has a market capitalization of $47.86 billion, a PE ratio of 13.97, a PEG ratio of 3.41 and a beta of -0.07.
Southern (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.07. Southern had a net margin of 10.35% and a return on equity of 12.88%. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Southern Co will post 3.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 6th. Investors of record on Monday, November 19th were given a dividend of $0.60 per share. The ex-dividend date was Friday, November 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.11%. Southern’s payout ratio is presently 79.47%.
In other news, CEO Kimberly S. Greene sold 15,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $47.03, for a total value of $705,450.00. Following the completion of the sale, the chief executive officer now owns 9,380 shares in the company, valued at approximately $441,141.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Lantrip sold 9,000 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $47.58, for a total transaction of $428,220.00. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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