TIAA Trust National Association Has $6.30 Million Stake in Southern Company (The) $SO

TIAA Trust National Association decreased its position in shares of Southern Company (The) (NYSE:SO) by 65.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,284 shares of the utilities provider’s stock after selling 134,056 shares during the period. TIAA Trust National Association’s holdings in Southern were worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SO. Triumph Capital Management acquired a new stake in shares of Southern during the third quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Southern during the fourth quarter worth approximately $31,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of Southern during the fourth quarter worth approximately $33,000. Kingdom Financial Group LLC. acquired a new stake in shares of Southern during the fourth quarter worth approximately $33,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Southern during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Buying and Selling

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction 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 approximately $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SO. Barclays raised their price objective on shares of Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. BMO Capital Markets reissued an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Evercore raised shares of Southern from an “in-line” rating to an “outperform” rating and set a $111.00 price target on the stock in a research note on Thursday, March 5th. Wells Fargo & Company set a $96.00 price target on shares of Southern and gave the company an “equal weight” rating in a research note on Friday, February 20th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern presently has an average rating of “Hold” and an average price target of $99.38.

Southern Price Performance

SO opened at $92.93 on Wednesday. Southern Company has a one year low of $83.80 and a one year high of $100.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The company’s 50 day simple moving average is $94.13 and its 200-day simple moving average is $91.87. The stock has a market capitalization of $104.76 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.34.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. Southern’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, May 18th were paid a $0.76 dividend. The ex-dividend date of this dividend was Monday, May 18th. 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 yield of 3.3%. Southern’s payout ratio is 77.35%.

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.