Sei Investments Co. Lowers Stock Position in The Southern Company (NYSE:SO)

Sei Investments Co. trimmed its holdings in shares of The Southern Company (NYSE:SOFree Report) by 4.2% during the 4th quarter, reports. The institutional investor owned 720,179 shares of the utilities provider’s stock after selling 31,516 shares during the quarter. Sei Investments Co.’s holdings in Southern were worth $50,498,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mosley Wealth Management purchased a new stake in shares of Southern during the fourth quarter valued at about $430,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Southern in the fourth quarter valued at approximately $55,000. Wealth Quarterback LLC grew its holdings in Southern by 33.2% in the fourth quarter. Wealth Quarterback LLC now owns 5,150 shares of the utilities provider’s stock worth $361,000 after purchasing an additional 1,284 shares during the last quarter. Waterford Advisors LLC increased its position in shares of Southern by 6.1% during the fourth quarter. Waterford Advisors LLC now owns 3,471 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 200 shares in the last quarter. Finally, Angeles Investment Advisors LLC boosted its position in shares of Southern by 13.3% in the 4th quarter. Angeles Investment Advisors LLC now owns 5,202 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 612 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of NYSE:SO opened at $78.97 on Tuesday. The business’s 50 day moving average price is $75.25 and its 200-day moving average price is $71.56. The Southern Company has a 1 year low of $61.56 and a 1 year high of $80.84. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.92 and a quick ratio of 0.65. The firm has a market capitalization of $86.35 billion, a PE ratio of 20.41, a P/E/G ratio of 2.80 and a beta of 0.51.

Southern (NYSE:SOGet Free Report) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, equities research analysts expect that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.65%. This is a positive change from Southern’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 17th. Southern’s dividend payout ratio (DPR) is 74.42%.

Wall Street Analyst Weigh In

SO has been the topic of several research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $76.00 target price (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Bank of America raised their target price on shares of Southern from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Southern in a report on Wednesday, February 21st. Barclays raised their target price on Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Argus boosted their price target on Southern from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.36.

Read Our Latest Stock Report on SO

Insider Transactions at Southern

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the sale, the chief executive officer now directly owns 121,504 shares in the company, valued at approximately $9,117,660.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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