HCR Wealth Advisors bought a new position in The Southern Company (NYSE:SO – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,708 shares of the utilities provider’s stock, valued at approximately $260,000.
Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Southern by 12.1% in the second quarter. Russell Investments Group Ltd. now owns 1,263,632 shares of the utilities provider’s stock valued at $88,748,000 after acquiring an additional 135,992 shares during the period. Bank of Hawaii boosted its holdings in shares of Southern by 4.8% in the second quarter. Bank of Hawaii now owns 28,768 shares of the utilities provider’s stock worth $2,021,000 after buying an additional 1,313 shares during the last quarter. Clarius Group LLC boosted its holdings in shares of Southern by 6.8% in the second quarter. Clarius Group LLC now owns 12,918 shares of the utilities provider’s stock worth $907,000 after buying an additional 828 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Southern by 2.0% during the second quarter. Moors & Cabot Inc. now owns 66,704 shares of the utilities provider’s stock valued at $4,686,000 after buying an additional 1,315 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Southern by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 13,022 shares of the utilities provider’s stock worth $915,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Martin Bernard Davis sold 1,490 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $67.05, for a total value of $99,904.50. Following the completion of the sale, the executive vice president now directly owns 72,756 shares of the company’s stock, valued at approximately $4,878,289.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $67.83, for a total value of $339,150.00. Following the transaction, the chief executive officer now directly owns 121,284 shares in the company, valued at $8,226,693.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Martin Bernard Davis sold 1,490 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $67.05, for a total transaction of $99,904.50. Following the transaction, the executive vice president now directly owns 72,756 shares in the company, valued at $4,878,289.80. The disclosure for this sale can be found here. Insiders have sold 21,490 shares of company stock valued at $1,452,505 over the last ninety days. 0.28% of the stock is owned by insiders.
Southern Price Performance
Southern Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.80 annualized dividend and a yield of 3.98%. Southern’s dividend payout ratio is currently 101.08%.
Analyst Upgrades and Downgrades
SO has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Southern from $75.00 to $74.00 in a research report on Friday, August 4th. Guggenheim lowered their price objective on Southern from $80.00 to $72.00 in a research report on Monday, October 9th. Scotiabank cut shares of Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 target price on the stock. in a research note on Friday, November 3rd. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $67.00 to $68.00 in a research note on Wednesday, September 13th. Finally, LADENBURG THALM/SH SH began coverage on shares of Southern in a report on Wednesday, August 9th. They issued a “buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Southern currently has a consensus rating of “Hold” and a consensus target price of $73.00.
Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. 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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