J.P. Morgan Private Wealth Advisors LLC Cuts Stake in The Southern Company (NYSE:SO)

J.P. Morgan Private Wealth Advisors LLC lowered its stake in The Southern Company (NYSE:SOFree Report) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,536 shares of the utilities provider’s stock after selling 10,580 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Southern were worth $7,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Austin Private Wealth LLC boosted its holdings in shares of Southern by 16.3% in the 3rd quarter. Austin Private Wealth LLC now owns 3,630 shares of the utilities provider’s stock worth $235,000 after purchasing an additional 508 shares during the period. Western Wealth Management LLC boosted its holdings in shares of Southern by 13.4% in the 3rd quarter. Western Wealth Management LLC now owns 18,215 shares of the utilities provider’s stock worth $1,179,000 after purchasing an additional 2,148 shares during the period. New York Life Investment Management LLC boosted its holdings in shares of Southern by 0.7% in the 3rd quarter. New York Life Investment Management LLC now owns 155,841 shares of the utilities provider’s stock worth $10,086,000 after purchasing an additional 1,055 shares during the period. Bryn Mawr Capital Management LLC boosted its holdings in Southern by 3.9% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 5,815 shares of the utilities provider’s stock valued at $376,000 after acquiring an additional 216 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Southern by 14.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,401 shares of the utilities provider’s stock valued at $350,000 after purchasing an additional 692 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

Insider Activity at Southern

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the transaction, the chief executive officer now directly owns 101,284 shares in the company, valued at $7,291,435.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total value of $359,950.00. Following the completion of the transaction, the chief executive officer now owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David P. Poroch sold 10,099 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following the completion of the transaction, the insider now owns 28,691 shares of the company’s stock, valued at approximately $2,007,222.36. The disclosure for this sale can be found here. Insiders sold 35,099 shares of company stock worth $2,458,476 over the last three months. Company insiders own 0.37% of the company’s stock.

Southern Price Performance

Shares of SO opened at $67.40 on Wednesday. The firm has a market capitalization of $73.51 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.19 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.63. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80. The company’s fifty day moving average price is $70.34 and its 200-day moving average price is $69.03.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 4.15%. Southern’s dividend payout ratio is presently 101.08%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays decreased their target price on Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Southern from $69.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, November 29th. StockNews.com upgraded shares of Southern from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Mizuho cut their price target on shares of Southern from $76.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, November 21st. Finally, Scotiabank lowered shares of Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 price target on the stock. in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

View Our Latest Analysis on SO

About Southern

(Free Report)

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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Institutional Ownership by Quarter for Southern (NYSE:SO)

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