Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Southern Company (The) (NYSE:SO) by 6.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 163,230 shares of the utilities provider’s stock after selling 10,866 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Southern Company (The) were worth $8,126,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. AE Wealth Management LLC purchased a new position in Southern Company (The) during the fourth quarter valued at $1,612,000. SNS Financial Group LLC raised its position in shares of Southern Company (The) by 11.9% in the fourth quarter. SNS Financial Group LLC now owns 68,203 shares of the utilities provider’s stock worth $3,355,000 after buying an additional 7,251 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Southern Company (The) during the fourth quarter worth $5,446,000. Norges Bank bought a new position in shares of Southern Company (The) during the fourth quarter worth $387,991,000. Finally, Access Financial Services Inc. bought a new position in shares of Southern Company (The) during the fourth quarter worth $1,267,000. Institutional investors own 52.83% of the company’s stock.
Shares of Southern Company (NYSE:SO) traded up 0.66% during trading on Tuesday, hitting $48.96. The company had a trading volume of 2,916,843 shares. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.73. The firm has a market capitalization of $48.93 billion, a P/E ratio of 80.53 and a beta of 0.12. The company’s 50 day moving average is $48.05 and its 200 day moving average is $49.48.
Southern Company (The) (NYSE:SO) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the business posted $0.74 EPS. The business’s revenue was up 21.7% compared to the same quarter last year. Analysts anticipate that Southern Company will post $2.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.74%. Southern Company (The)’s dividend payout ratio is presently 346.27%.
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A number of analysts have recently issued reports on SO shares. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. BidaskClub downgraded shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Macquarie upgraded shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Monday, July 10th. Morgan Stanley reduced their target price on shares of Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating for the company in a research report on Friday, June 23rd. Finally, Barclays PLC reissued an “overweight” rating and issued a $56.00 target price (up previously from $53.00) on shares of Southern Company (The) in a research report on Sunday, April 23rd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.79.
In other Southern Company (The) news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Lantrip sold 25,000 shares of Southern Company (The) stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. Following the sale, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,084 shares of company stock worth $7,665,158. 0.74% of the stock is owned by company insiders.
About Southern Company (The)
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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