TIAA Trust National Association Reduces Stock Holdings in The Southern Company (NYSE:SO)

TIAA Trust National Association reduced its position in The Southern Company (NYSE:SOFree Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,842 shares of the utilities provider’s stock after selling 724 shares during the quarter. TIAA Trust National Association’s holdings in Southern were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Southern in the 4th quarter worth about $435,979,000. Moneta Group Investment Advisors LLC purchased a new position in Southern during the fourth quarter valued at approximately $369,131,000. Ameriprise Financial Inc. increased its holdings 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 period. Imprint Wealth LLC increased its holdings in Southern by 5,840.2% during the 2nd quarter. Imprint Wealth LLC now owns 1,949,392 shares of the utilities provider’s stock worth $194,939,000 after acquiring an additional 1,916,575 shares during the period. Finally, FMR LLC lifted its stake in Southern by 5.0% in the 3rd quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock worth $2,518,045,000 after purchasing an additional 1,838,857 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $71.99, for a total value of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares in the company, valued at approximately $7,291,435.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares in the company, valued at approximately $7,291,435.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,998 shares of company stock valued at $1,806,063 over the last quarter. 0.28% of the stock is owned by company insiders.

Southern Trading Down 0.5 %

Shares of Southern stock opened at $70.98 on Thursday. 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 stock’s 50 day simple moving average is $68.64 and its 200-day simple moving average is $68.89. The stock has a market cap of $77.70 billion, a P/E ratio of 19.55, a P/E/G ratio of 4.45 and a beta of 0.49. The Southern Company has a 1-year low of $61.56 and a 1-year high of $75.80.

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

Southern Announces Dividend

The business also recently announced 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 was Friday, February 16th. This represents a $2.80 annualized dividend and a yield of 3.94%. Southern’s dividend payout ratio (DPR) is presently 77.14%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Southern in a report on Friday, December 8th. They issued a “buy” rating and a $82.00 price target on the stock. Mizuho raised their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price target (up previously from $72.00) on shares of Southern in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of Southern in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company dropped their target price on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. One 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 stock. According to data from MarketBeat.com, Southern presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Get Our Latest Report 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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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