Hartford Investment Management Co. trimmed its holdings in shares of The Southern Company (NYSE:SO – Get Rating) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,536 shares of the utilities provider’s stock after selling 7,352 shares during the quarter. Hartford Investment Management Co.’s holdings in Southern were worth $7,652,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Southern during the 4th quarter worth approximately $161,000. Liberty One Investment Management LLC grew its holdings in Southern by 4.4% during the 4th quarter. Liberty One Investment Management LLC now owns 357,557 shares of the utilities provider’s stock worth $24,521,000 after acquiring an additional 15,206 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Southern by 20.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 19,490 shares of the utilities provider’s stock valued at $1,337,000 after purchasing an additional 3,253 shares during the last quarter. Cypress Capital Group boosted its stake in shares of Southern by 11.5% in the 4th quarter. Cypress Capital Group now owns 10,764 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 1,114 shares during the last quarter. Finally, IVC Wealth Advisors LLC boosted its stake in shares of Southern by 3.4% in the 4th quarter. IVC Wealth Advisors LLC now owns 6,625 shares of the utilities provider’s stock valued at $454,000 after purchasing an additional 216 shares during the last quarter. 60.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on SO shares. Mizuho raised their price objective on shares of Southern from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. UBS Group reduced their price objective on shares of Southern from $83.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Southern from $68.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 19th. BMO Capital Markets dropped their target price on shares of Southern from $81.00 to $70.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 22nd. Finally, StockNews.com began coverage on shares of Southern in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average target price of $73.22.
SO opened at $71.31 on Friday. 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 company’s fifty day moving average price is $72.74 and its two hundred day moving average price is $70.20. The Southern Company has a 1-year low of $60.60 and a 1-year high of $77.24. The company has a market cap of $75.77 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 4.90 and a beta of 0.48.
Southern (NYSE:SO – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Southern had a net margin of 10.09% and a return on equity of 11.35%. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that The Southern Company will post 3.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 6th. Shareholders of record on Monday, May 16th were issued a dividend of $0.68 per share. This is an increase from Southern’s previous quarterly dividend of $0.66. The ex-dividend date was Friday, May 13th. This represents a $2.72 annualized dividend and a yield of 3.81%. Southern’s dividend payout ratio is currently 125.93%.
In other news, EVP Bryan D. Anderson sold 26,917 shares of the stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $75.96, for a total value of $2,044,615.32. Following the completion of the sale, the executive vice president now owns 30,660 shares in the company, valued at $2,328,933.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $75.97, for a total transaction of $1,101,565.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at approximately $8,758,125.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,836 shares of company stock worth $8,316,301. Corporate insiders own 0.37% of the company’s stock.
Southern Profile: (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 investment operations.
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