The Southern Company (NYSE:SO) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of The Southern Company (NYSE:SOGet Rating) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,061 shares of the utilities provider’s stock after purchasing an additional 15,065 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Southern were worth $8,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Landmark Wealth Management LLC purchased a new position in Southern in the 1st quarter valued at about $25,000. IndexIQ Advisors LLC purchased a new position in Southern in the 1st quarter valued at about $25,000. Rise Advisors LLC purchased a new position in Southern in the 4th quarter valued at about $34,000. Hardy Reed LLC purchased a new position in Southern in the 1st quarter valued at about $36,000. Finally, Western Pacific Wealth Management LP purchased a new position in Southern in the 4th quarter valued at about $45,000. 62.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern

In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $72.92, for a total transaction of $1,057,340.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at $8,406,509.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $72.92, for a total transaction of $1,057,340.00. Following the completion of the sale, the chief executive officer now owns 115,284 shares of the company’s stock, valued at $8,406,509.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 136,987 shares of the company’s stock, valued at approximately $10,411,012. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock valued at $4,109,655 over the last 90 days. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on SO shares. UBS Group upgraded shares of Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $87.00 in a report on Thursday, August 4th. Argus increased their price objective on shares of Southern from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. The Goldman Sachs Group increased their price objective on shares of Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a report on Monday, August 22nd. Guggenheim increased their price objective on shares of Southern from $76.00 to $80.00 in a report on Thursday, July 21st. Finally, BMO Capital Markets cut their price objective on shares of Southern from $81.00 to $70.00 and set a “market perform” rating on the stock in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.67.

Southern Stock Down 1.3 %

Shares of NYSE:SO opened at $77.22 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 1.55. The Southern Company has a 52-week low of $60.99 and a 52-week high of $80.57. The company has a 50 day moving average of $76.74 and a two-hundred day moving average of $73.92. The company has a market capitalization of $82.08 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 5.31 and a beta of 0.50.

Southern (NYSE:SOGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.23. Southern had a net margin of 12.13% and a return on equity of 12.09%. The company had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company earned $0.84 earnings per share. Southern’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, analysts forecast that The Southern Company will post 3.63 earnings per share for the current fiscal year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, August 12th. Southern’s dividend payout ratio (DPR) is 95.77%.

Southern Profile

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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 investments operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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