Swiss National Bank Decreases Stock Holdings in Southern Company (The) $SO

Swiss National Bank decreased its holdings in shares of Southern Company (The) (NYSE:SO) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,014,500 shares of the utilities provider’s stock after selling 153,600 shares during the period. Swiss National Bank’s holdings in Southern were worth $262,864,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SO. Principal Securities Inc. increased its position in Southern by 8.4% during the fourth quarter. Principal Securities Inc. now owns 24,786 shares of the utilities provider’s stock valued at $2,161,000 after acquiring an additional 1,917 shares during the last quarter. Mosley Wealth Management bought a new position in Southern during the fourth quarter valued at $1,102,000. Founders Financial Alliance LLC increased its position in Southern by 36.2% during the fourth quarter. Founders Financial Alliance LLC now owns 3,333 shares of the utilities provider’s stock valued at $291,000 after acquiring an additional 886 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. increased its position in Southern by 0.3% during the fourth quarter. Woodley Farra Manion Portfolio Management Inc. now owns 48,517 shares of the utilities provider’s stock valued at $4,231,000 after acquiring an additional 124 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its position in Southern by 1.7% during the fourth quarter. Great Valley Advisor Group Inc. now owns 31,015 shares of the utilities provider’s stock valued at $2,705,000 after acquiring an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Trading Down 0.7%

NYSE SO opened at $93.37 on Friday. The company’s 50-day moving average price is $94.01 and its 200-day moving average price is $91.94. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 1.68. The stock has a market cap of $105.25 billion, a PE ratio of 23.76, a PEG ratio of 2.84 and a beta of 0.34. Southern Company has a 12 month low of $83.80 and a 12 month high of $100.83.

Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Equities research analysts forecast that Southern Company will post 4.58 earnings per share for the current year.

Southern Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were issued a $0.76 dividend. The ex-dividend date was Monday, May 18th. This is a boost from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.3%. Southern’s dividend payout ratio (DPR) is currently 77.35%.

Insider Transactions at Southern

In other news, EVP Christopher Cummiskey sold 6,669 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $96.55, for a total value of $643,891.95. Following the transaction, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. This represents a 17.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the completion of the transaction, the chief executive officer owned 103,602 shares in the company, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Seaport Research Partners cut shares of Southern from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Mizuho set a $105.00 price objective on shares of Southern in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating on shares of Southern in a research report on Friday, April 10th. Morgan Stanley reiterated an “underweight” rating and set a $87.00 price objective on shares of Southern in a research report on Thursday, May 21st. Finally, Barclays boosted their price objective on shares of Southern from $88.00 to $99.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.38.

Southern Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.