Atria Investments Inc Cuts Stock Holdings in Southern Company (The) $SO

Atria Investments Inc trimmed its stake in shares of Southern Company (The) (NYSE:SO) by 11.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 88,632 shares of the utilities provider’s stock after selling 10,994 shares during the quarter. Atria Investments Inc’s holdings in Southern were worth $8,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SO. Donaldson Capital Management LLC grew its stake in Southern by 2,785.8% in the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock valued at $53,358,000 after purchasing an additional 543,517 shares during the period. Matrix Trust Co bought a new position in Southern during the third quarter valued at about $1,813,000. Alpha Cubed Investments LLC grew its position in Southern by 23.6% during the second quarter. Alpha Cubed Investments LLC now owns 7,145 shares of the utilities provider’s stock valued at $656,000 after buying an additional 1,366 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Southern during the third quarter worth about $4,852,000. Finally, Shelton Capital Management raised its position in Southern by 700.6% in the second quarter. Shelton Capital Management now owns 161,618 shares of the utilities provider’s stock worth $14,841,000 after acquiring an additional 141,430 shares during the period. Institutional investors own 64.10% of the company’s stock.

Southern Price Performance

SO stock opened at $94.93 on Friday. The firm has a market cap of $104.53 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.80 and a beta of 0.45. The firm’s fifty day moving average is $87.90 and its 200 day moving average is $91.38. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 annualized dividend and a yield of 3.1%. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen downgraded Southern from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Jefferies Financial Group cut their price target on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. The Goldman Sachs Group lowered Southern from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a report on Thursday, November 6th. Wells Fargo & Company cut Southern from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $97.00 to $84.00 in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $105.00 target price on shares of Southern in a research report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.91.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.