Citizens Financial Group Inc. RI Has $904,000 Position in Southern Company (The) (SO)
Citizens Financial Group Inc. RI lifted its holdings in Southern Company (The) (NYSE:SO) by 25.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,388 shares of the utilities provider’s stock after acquiring an additional 3,700 shares during the period. Citizens Financial Group Inc. RI’s holdings in Southern were worth $904,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in SO. BlackRock Inc. lifted its stake in Southern by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after purchasing an additional 60,040,696 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Southern by 3,580.1% in the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock worth $223,766,000 after purchasing an additional 4,546,503 shares during the last quarter. Capital Research Global Investors lifted its stake in Southern by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock worth $715,338,000 after purchasing an additional 3,015,226 shares during the last quarter. Vanguard Group Inc. lifted its stake in Southern by 4.1% in the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock worth $3,422,780,000 after purchasing an additional 2,688,854 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Southern by 1,565.3% in the third quarter. Commonwealth Bank of Australia now owns 1,738,380 shares of the utilities provider’s stock worth $59,048,000 after purchasing an additional 1,633,990 shares during the last quarter. 53.66% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on SO shares. KeyCorp reissued a “hold” rating on shares of Southern in a research note on Friday, September 1st. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Southern from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Jefferies Group reissued a “buy” rating and issued a $56.00 price objective (up previously from $55.00) on shares of Southern in a research note on Tuesday, September 12th. Finally, Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $56.00 in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.92.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. sell-side analysts expect that Southern Company will post 2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 6th. Stockholders of record on Monday, November 20th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Friday, November 17th. Southern’s dividend payout ratio is presently 414.29%.
In related news, CEO William P. Bowers sold 85,151 shares of Southern stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $4,257,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of Southern stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.28, for a total transaction of $261,400.00. Following the transaction, the insider now directly owns 7,394 shares in the company, valued at $386,558.32. The disclosure for this sale can be found here. Insiders have sold 213,813 shares of company stock valued at $11,029,988 in the last ninety days. Insiders own 1.00% of the company’s stock.
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Southern 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.
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