Huntington National Bank decreased its holdings in shares of Southern Company (The) (NYSE:SO) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,044 shares of the utilities provider’s stock after selling 9,897 shares during the quarter. Huntington National Bank’s holdings in Southern Company (The) were worth $13,466,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Southern Company (The) by 3.3% in the second quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock valued at $3,402,047,000 after purchasing an additional 2,295,466 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Southern Company (The) by 2,961.9% in the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after purchasing an additional 60,040,696 shares during the last quarter. State Street Corp increased its holdings 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 valued at $2,434,244,000 after purchasing an additional 515,397 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Southern Company (The) by 3.6% in the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after purchasing an additional 770,413 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Southern Company (The) by 25.3% in the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after purchasing an additional 3,015,226 shares during the last quarter. Institutional investors own 52.64% of the company’s stock.

In related news, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.28, for a total value of $261,400.00. Following the completion of the sale, 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 sold 213,813 shares of company stock valued at $11,029,988 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Several equities analysts recently commented on SO shares. Zacks Investment Research downgraded shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $52.00 in a research report on Tuesday, August 1st. Guggenheim raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, September 14th. Mizuho raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $53.00 target price on shares of Southern Company (The) in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $49.72.

Shares of Southern Company (NYSE:SO) traded up $0.03 on Friday, reaching $51.39. The company had a trading volume of 1,155,785 shares, compared to its average volume of 3,922,574. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The stock has a market cap of $51,546.34, a price-to-earnings ratio of 18.68, a P/E/G ratio of 4.64 and a beta of 0.15. Southern Company has a 52 week low of $46.20 and a 52 week high of $53.51.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. sell-side analysts predict that Southern Company will post 2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Monday, November 20th will be given a $0.58 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a yield of 4.51%. Southern Company (The)’s payout ratio is 414.29%.

COPYRIGHT VIOLATION WARNING: “Huntington National Bank Lowers Holdings in Southern Company (The) (SO)” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/huntington-national-bank-lowers-holdings-in-southern-company-the-so/1725997.html.

Southern Company (The) 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)

Receive News & Ratings for Southern Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Company (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.