Gotham Asset Management LLC purchased a new position in Southern Company (The) (NYSE:SO) during the first quarter, Holdings Channel reports. The institutional investor purchased 7,130 shares of the utilities provider’s stock, valued at approximately $355,000.

Other institutional investors have also recently bought and sold shares of the company. New England Asset Management Inc. increased its position in Southern Company (The) by 9.2% in the first quarter. New England Asset Management Inc. now owns 98,855 shares of the utilities provider’s stock worth $4,921,000 after buying an additional 8,350 shares during the period. Signaturefd LLC increased its position in shares of Southern Company (The) by 1.6% in the first quarter. Signaturefd LLC now owns 46,308 shares of the utilities provider’s stock worth $2,305,000 after buying an additional 708 shares during the last quarter. Sii Investments Inc. WI increased its position in shares of Southern Company (The) by 3.4% in the first quarter. Sii Investments Inc. WI now owns 11,055 shares of the utilities provider’s stock worth $548,000 after buying an additional 368 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of Southern Company (The) by 18.0% in the first quarter. Level Four Advisory Services LLC now owns 38,185 shares of the utilities provider’s stock worth $1,926,000 after buying an additional 5,821 shares during the last quarter. Finally, State Street Corp increased its position in shares of Southern Company (The) by 1.1% in the first quarter. State Street Corp now owns 48,900,251 shares of the utilities provider’s stock worth $2,434,244,000 after buying an additional 515,397 shares during the last quarter. Institutional investors and hedge funds own 53.57% of the company’s stock.

Southern Company (SO) traded down 0.3755% during midday trading on Friday, hitting $48.6267. The stock had a trading volume of 942,545 shares. The stock’s 50 day moving average price is $48.14 and its 200-day moving average price is $49.47. The company has a market cap of $48.60 billion, a PE ratio of 79.9781 and a beta of 0.12. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.73.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts predict that Southern Company will post $2.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.32 annualized dividend and a yield of 4.75%. Southern Company (The)’s dividend payout ratio is 346.27%.

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A number of equities analysts have commented on the company. Zacks Investment Research downgraded Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Morgan Stanley decreased their target price on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating for the company in a research note on Friday, June 23rd. Barclays PLC restated an “overweight” rating and issued a $56.00 target price (up from $53.00) on shares of Southern Company (The) in a research note on Sunday, April 23rd. 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. Finally, BidaskClub downgraded Southern Company (The) from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Southern Company (The) currently has a consensus rating of “Hold” and a consensus target price of $48.79.

In other Southern Company (The) news, CEO Mark Lantrip sold 25,000 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 transaction of $1,287,500.00. Following the sale, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at $1,600,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the sale, the insider now directly owns 7,394 shares in the company, valued at $379,164.32. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock worth $7,665,158 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.

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

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