Amalgamated Bank raised its position in Southern Company (The) (NYSE:SO) by 10.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,619 shares of the utilities provider’s stock after buying an additional 6,684 shares during the period. Amalgamated Bank’s holdings in Southern Company (The) were worth $3,466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Symmetry Partners LLC purchased a new stake in Southern Company (The) during the first quarter valued at approximately $103,000. Stuart Chaussee & Associates Inc. boosted its stake in Southern Company (The) by 358.8% in the first quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after buying an additional 1,740 shares during the period. AlphaMark Advisors LLC boosted its stake in Southern Company (The) by 115.7% in the first quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after buying an additional 1,260 shares during the period. Ruggie Capital Group boosted its stake in Southern Company (The) by 228.0% in the first quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock valued at $128,000 after buying an additional 1,792 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Southern Company (The) during the first quarter valued at approximately $132,000. Hedge funds and other institutional investors own 53.26% of the company’s stock.

Shares of Southern Company (SO) remained flat at $48.26 during trading on Friday. 3,112,787 shares of the stock traded hands. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.73. The firm has a market cap of $48.23 billion, a PE ratio of 79.38 and a beta of 0.13. The company’s 50-day moving average is $48.16 and its 200-day moving average is $49.41.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the company earned $0.74 EPS. Southern Company (The)’s revenue was up 21.7% on a year-over-year basis. Equities research analysts anticipate that Southern Company will post $2.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, August 17th. Southern Company (The)’s payout ratio is 346.27%.

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Several analysts have recently commented on SO shares. Barclays PLC restated a “buy” rating and issued a $55.00 target price on shares of Southern Company (The) in a research note on Friday, May 5th. Morgan Stanley raised their target price on shares of Southern Company (The) from $50.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, May 8th. Jefferies Group LLC restated a “buy” rating and issued a $55.00 target price on shares of Southern Company (The) in a research note on Monday, May 15th. Zacks Investment Research cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Finally, BidaskClub cut shares of Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.79.

In other Southern Company (The) news, insider Art P. Beattie sold 46,940 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total value of $2,417,410.00. Following the completion of the sale, the insider now directly owns 59,493 shares of the company’s stock, valued at approximately $3,063,889.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $51.28, for a total transaction of $256,400.00. Following the completion of the sale, the insider now directly owns 7,394 shares of the company’s stock, valued at $379,164.32. The disclosure for this sale can be found here. Insiders sold a total of 152,084 shares of company stock valued at $7,665,158 over the last three months. 1.00% of the stock is owned by corporate insiders.

Southern Company (The) Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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