World Investment Advisors raised its stake in Southern Company (The) (NYSE:SO – Free Report) by 53.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,100 shares of the utilities provider’s stock after buying an additional 10,519 shares during the quarter. World Investment Advisors’ holdings in Southern were worth $2,625,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ankerstar Wealth LLC acquired a new stake in shares of Southern in the 4th quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in Southern in the 4th quarter worth about $27,000. J.Safra Asset Management Corp acquired a new stake in shares of Southern in the fourth quarter valued at approximately $27,000. Triumph Capital Management acquired a new stake in shares of Southern in the third quarter valued at approximately $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Southern during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 64.10% of the company’s stock.
Southern Price Performance
NYSE SO opened at $93.23 on Friday. Southern Company has a 1 year low of $83.80 and a 1 year high of $100.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65. The stock has a market capitalization of $105.09 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.81 and a beta of 0.34. The business’s fifty day moving average is $93.58 and its two-hundred day moving average is $92.07.
Southern Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. Southern’s payout ratio is presently 77.35%.
Wall Street Analyst Weigh In
SO has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Southern in a research report on Friday, February 20th. Seaport Research Partners cut Southern from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $102.00 target price on shares of Southern in a research note on Monday, February 23rd. Wall Street Zen upgraded Southern from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank increased their price target on Southern from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Seven investment 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. According to data from MarketBeat.com, Southern currently has a consensus rating of “Hold” and an average price target of $99.32.
Get Our Latest Stock Report on SO
Insider Activity
In other news, CEO Kimberly S. Greene sold 25,000 shares of the company’s stock in a transaction dated 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 owned 103,602 shares of the company’s stock, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
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.
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