BI Asset Management Fondsmaeglerselskab A S Sells 18,119 Shares of Southern Company (The) $SO

BI Asset Management Fondsmaeglerselskab A S reduced its position in Southern Company (The) (NYSE:SO) by 26.9% during the first quarter, Holdings Channel reports. The institutional investor owned 49,147 shares of the utilities provider’s stock after selling 18,119 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Southern were worth $4,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ankerstar Wealth LLC bought a new position in shares of Southern during the 4th quarter worth approximately $25,000. Triumph Capital Management acquired a new stake in Southern in the third quarter valued at approximately $29,000. Cornerstone Financial Management LLC purchased a new position in Southern in the fourth quarter worth $27,000. J.Safra Asset Management Corp purchased a new position in Southern in the fourth quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Southern during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Insider Activity

In other news, CEO Kimberly S. Greene sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Southern Price Performance

Shares of SO opened at $93.41 on Tuesday. The firm has a market capitalization of $105.30 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.81 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. Southern Company has a 1-year low of $83.80 and a 1-year high of $100.83. The company’s fifty day moving average price is $93.49 and its 200-day moving average price is $92.12.

Southern (NYSE:SO) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts predict that Southern Company will post 4.58 EPS for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were issued a $0.76 dividend. This is a boost from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, May 18th. Southern’s dividend payout ratio is currently 77.35%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SO shares. Weiss Ratings raised Southern from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. TD Cowen increased their price target on Southern from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Morgan Stanley reissued an “underweight” rating and issued a $87.00 price target on shares of Southern in a report on Thursday, May 21st. KeyCorp upgraded Southern from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, March 4th. Finally, Mizuho set a $105.00 price objective on shares of Southern in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.15.

About Southern

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.