Albion Financial Group UT boosted its position in shares of The Southern Company (NYSE:SO – Free Report) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,070 shares of the utilities provider’s stock after acquiring an additional 1,771 shares during the period. Albion Financial Group UT’s holdings in Southern were worth $7,131,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vista Capital Partners Inc. grew its holdings in Southern by 1.4% during the 2nd quarter. Vista Capital Partners Inc. now owns 8,743 shares of the utilities provider’s stock worth $678,000 after acquiring an additional 118 shares in the last quarter. Modera Wealth Management LLC grew its holdings in Southern by 1.4% during the 2nd quarter. Modera Wealth Management LLC now owns 9,048 shares of the utilities provider’s stock worth $702,000 after acquiring an additional 124 shares in the last quarter. Red Door Wealth Management LLC grew its holdings in Southern by 0.9% during the 2nd quarter. Red Door Wealth Management LLC now owns 13,926 shares of the utilities provider’s stock worth $1,080,000 after acquiring an additional 125 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Southern by 2.1% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,352 shares of the utilities provider’s stock worth $493,000 after acquiring an additional 128 shares in the last quarter. Finally, Moloney Securities Asset Management LLC grew its holdings in Southern by 2.0% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,595 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.
Southern Stock Down 0.7 %
Shares of Southern stock opened at $88.27 on Friday. The company has a market cap of $96.52 billion, a P/E ratio of 21.02, a PEG ratio of 3.18 and a beta of 0.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91. The Southern Company has a one year low of $64.53 and a one year high of $91.86. The firm has a fifty day moving average of $88.29 and a two-hundred day moving average of $80.74.
Southern Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 19th were issued a $0.72 dividend. The ex-dividend date was Monday, August 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.26%. Southern’s dividend payout ratio is presently 68.57%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Southern from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Wolfe Research cut shares of Southern from an “outperform” rating to a “peer perform” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Southern from $83.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America upped their target price on shares of Southern from $86.00 to $87.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of Southern in a report on Friday, September 20th. They issued a “hold” rating and a $94.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.27.
Check Out Our Latest Analysis on Southern
Insider Activity
In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares in the company, valued at $1,112,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares in the company, valued at $1,112,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares of the company’s stock, valued at $13,005,688.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,945 shares of company stock worth $3,488,826 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.
About Southern
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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, gas distribution operations, and gas pipeline investments operations.
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