Kingswood Wealth Advisors LLC Boosts Stock Position in The Southern Company (NYSE:SO)

Kingswood Wealth Advisors LLC boosted its holdings in The Southern Company (NYSE:SOFree Report) by 258.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,962 shares of the utilities provider’s stock after purchasing an additional 18,717 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Southern were worth $1,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Southern by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 99,572,665 shares of the utilities provider’s stock valued at $6,444,343,000 after purchasing an additional 352,023 shares during the period. FMR LLC increased its position in shares of Southern by 5.0% during the 3rd quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock valued at $2,518,045,000 after purchasing an additional 1,838,857 shares during the last quarter. Northern Trust Corp increased its position in shares of Southern by 1.6% during the 3rd quarter. Northern Trust Corp now owns 10,737,843 shares of the utilities provider’s stock valued at $694,953,000 after purchasing an additional 163,986 shares during the last quarter. Morgan Stanley increased its position in shares of Southern by 3.7% during the 3rd quarter. Morgan Stanley now owns 9,811,307 shares of the utilities provider’s stock valued at $634,988,000 after purchasing an additional 349,122 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Southern by 38.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock worth $488,461,000 after acquiring an additional 2,096,988 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the completion of the transaction, the chief executive officer now owns 126,528 shares in the company, valued at $8,720,309.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the completion of the transaction, the chief executive officer now owns 126,528 shares in the company, valued at $8,720,309.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David P. Poroch sold 10,099 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total transaction of $706,526.04. Following 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. In the last three months, insiders have sold 25,998 shares of company stock valued at $1,806,063. Corporate insiders own 0.28% of the company’s stock.

Southern Stock Performance

Shares of SO opened at $69.80 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The Southern Company has a one year low of $61.56 and a one year high of $75.80. The firm has a market capitalization of $76.15 billion, a P/E ratio of 19.23, a PEG ratio of 4.36 and a beta of 0.49. The business has a fifty day moving average of $68.45 and a 200 day moving average of $68.80.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Southern had a return on equity of 11.40% and a net margin of 15.79%. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. Southern’s revenue was down 14.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Southern Company will post 4 EPS for the current year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 4.01%. Southern’s dividend payout ratio is presently 77.13%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SO. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on Southern from $69.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, November 29th. BMO Capital Markets lowered their target price on Southern from $75.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company lowered their price objective on Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Finally, Barclays lowered their price objective on Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.46.

Read Our Latest Analysis on SO

About Southern

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.

Read More

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.