CIBC Private Wealth Group LLC Acquires 2,804 Shares of The Southern Company (NYSE:SO)

CIBC Private Wealth Group LLC boosted its holdings in The Southern Company (NYSE:SOFree Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 131,279 shares of the utilities provider’s stock after acquiring an additional 2,804 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Southern were worth $9,205,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Southern in the 4th quarter valued at about $631,068,000. Ameriprise Financial Inc. increased its stake in Southern by 38.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock valued at $488,461,000 after buying an additional 2,096,988 shares during the last quarter. FMR LLC increased 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 valued at $2,518,045,000 after buying an additional 1,838,857 shares during the last quarter. International Assets Investment Management LLC increased its stake in Southern by 6,303.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,199,544 shares of the utilities provider’s stock valued at $84,112,000 after buying an additional 1,180,812 shares during the last quarter. Finally, Boston Partners purchased a new stake in Southern in the 4th quarter valued at about $56,924,000. Institutional investors own 64.10% of the company’s stock.

Insider Buying and Selling at Southern

In other Southern news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total value of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the transaction, the chief executive officer now owns 121,504 shares in the company, valued at $9,117,660.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares in the company, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Southern Price Performance

Shares of NYSE:SO opened at $78.65 on Friday. The stock has a market cap of $86.00 billion, a PE ratio of 20.32, a PEG ratio of 2.86 and a beta of 0.51. The company’s fifty day moving average is $74.97 and its 200 day moving average is $71.41. The Southern Company has a 52 week low of $61.56 and a 52 week high of $80.84. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67.

Southern (NYSE:SOGet Free Report) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.13. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Southern had a net margin of 16.74% and a return on equity of 12.07%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. Research analysts anticipate that The Southern Company will post 3.99 earnings per share for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were given a $0.72 dividend. This is a boost from Southern’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.66%. Southern’s payout ratio is presently 74.42%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. Wells Fargo & Company raised their price target on shares of Southern from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Argus raised their price target on shares of Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Scotiabank decreased their price target on shares of Southern from $80.00 to $77.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.60.

Check Out Our Latest Analysis on Southern

Southern Profile

(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.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

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