Kestra Advisory Services LLC boosted its stake in shares of The Southern Company (NYSE:SO – Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,880 shares of the utilities provider’s stock after buying an additional 41,161 shares during the period. Kestra Advisory Services LLC’s holdings in Southern were worth $20,007,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SO. Voisard Asset Management Group Inc. bought a new position in Southern in the 4th quarter worth about $31,000. Scarborough Advisors LLC purchased a new stake in shares of Southern during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc increased its position in shares of Southern by 62.0% during the first quarter. Versant Capital Management Inc now owns 444 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 170 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Southern by 63.9% in the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 205 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in Southern by 3,628.6% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 522 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.
Southern Price Performance
Shares of Southern stock traded up $0.51 during trading hours on Friday, reaching $82.17. The company’s stock had a trading volume of 4,010,104 shares, compared to its average volume of 3,083,865. 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 Southern Company has a one year low of $61.56 and a one year high of $83.46. The firm has a 50 day moving average price of $79.06 and a 200-day moving average price of $73.55. The stock has a market cap of $89.85 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.95 and a beta of 0.51.
Southern Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 19th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Monday, August 19th. Southern’s dividend payout ratio is currently 74.42%.
Analyst Ratings Changes
SO has been the topic of several recent analyst reports. Mizuho increased their price objective on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. 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. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price target (up from $72.00) on shares of Southern in a report on Monday, April 1st. Wells Fargo & Company upped their price objective on Southern from $72.00 to $77.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Argus boosted their price target on Southern from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.50.
Read Our Latest Analysis on SO
Insider Activity at Southern
In other Southern news, EVP Sloane N. Drake sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $77.61, for a total value of $931,320.00. Following the completion of the sale, the executive vice president now directly owns 16,771 shares of the company’s stock, valued at approximately $1,301,597.31. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Southern news, EVP Sloane N. Drake sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $77.61, for a total value of $931,320.00. Following the completion of the sale, the executive vice president now directly owns 16,771 shares in the company, valued at approximately $1,301,597.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony L. Wilson sold 6,900 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $77.61, for a total transaction of $535,509.00. Following the completion of the sale, the chief executive officer now directly owns 85,309 shares of the company’s stock, valued at $6,620,831.49. The disclosure for this sale can be found here. Insiders sold a total of 28,026 shares of company stock worth $2,151,644 in the last quarter. 0.18% of the stock is owned by company insiders.
Southern Profile
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.
Featured Stories
- Five stocks we like better than Southern
- How to Use the MarketBeat Excel Dividend Calculator
- Is Crypto Cool Again? What Stocks You Should Be Watching
- 3 Fintech Stocks With Good 2021 Prospects
- Why Call Options Volume for These 2 Stocks Spiked Together
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- MarketBeat Week in Review – 7/22 – 7/26
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SO – Free Report).
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.