Fideuram Asset Management Ireland dac purchased a new stake in shares of Southern Company (The) (NYSE:SO – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,132 shares of the utilities provider’s stock, valued at approximately $1,800,000.
Several other institutional investors have also made changes to their positions in the company. National Pension Service lifted its holdings in shares of Southern by 5.3% during the 4th quarter. National Pension Service now owns 2,900,350 shares of the utilities provider’s stock valued at $252,911,000 after buying an additional 146,674 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Southern during the 4th quarter valued at about $215,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Southern during the 4th quarter valued at about $700,000. Moors & Cabot Inc. lifted its holdings in shares of Southern by 5.7% during the 4th quarter. Moors & Cabot Inc. now owns 66,609 shares of the utilities provider’s stock valued at $5,808,000 after buying an additional 3,604 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Southern by 14.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 257,096 shares of the utilities provider’s stock valued at $22,419,000 after buying an additional 32,516 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.
Southern Stock Down 0.5%
SO opened at $92.06 on Friday. The business has a 50 day moving average price of $94.61 and a 200 day moving average price of $91.84. Southern Company has a twelve month low of $83.80 and a twelve month 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 firm has a market cap of $103.78 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.36.
Southern Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be issued a $0.76 dividend. This is an increase from Southern’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 annualized dividend and a yield of 3.3%. Southern’s dividend payout ratio is presently 77.35%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Truist Financial reduced their price target on Southern from $103.00 to $100.00 and set a “hold” rating for the company in a report on Friday. Weiss Ratings upgraded Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Scotiabank lifted their price target on Southern from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Citigroup reiterated a “buy” rating on shares of Southern in a report on Friday, April 10th. Finally, Seaport Research Partners lowered Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $99.38.
View Our Latest Report on Southern
Insider Activity at Southern
In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction that occurred on Thursday, March 19th. The stock was 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 $2,973,740. The trade was a 17.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total value 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. This represents a 19.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.
Southern 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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