Liberty Mutual Group Asset Management Inc. lowered its position in shares of Southern Company (The) (NYSE:SO) by 26.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,665 shares of the utilities provider’s stock after selling 18,216 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Southern Company (The) were worth $2,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SO. Vanguard Group Inc. increased its position in Southern Company (The) 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 buying an additional 2,688,854 shares during the period. Bank of New York Mellon Corp increased its position in Southern Company (The) by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 11,463,868 shares of the utilities provider’s stock worth $570,670,000 after buying an additional 62,620 shares during the period. Geode Capital Management LLC increased its position in Southern Company (The) by 8.2% in the first quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock worth $475,877,000 after buying an additional 724,650 shares during the period. Ameriprise Financial Inc. increased its position in Southern Company (The) by 205.4% in the first quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock worth $438,168,000 after buying an additional 5,920,212 shares during the period. Finally, Legal & General Group Plc increased its position in Southern Company (The) by 4.4% in the first quarter. Legal & General Group Plc now owns 6,840,404 shares of the utilities provider’s stock worth $340,505,000 after buying an additional 290,669 shares during the period. 53.26% of the stock is currently owned by institutional investors and hedge funds.

Southern Company (NYSE SO) traded down 0.06% during mid-day trading on Tuesday, reaching $48.32. 490,635 shares of the company were exchanged. The stock has a 50-day moving average of $48.03 and a 200 day moving average of $49.44. The firm has a market capitalization of $48.29 billion, a P/E ratio of 79.47 and a beta of 0.12. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.73.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend is Thursday, August 17th. Southern Company (The)’s payout ratio is 346.27%.

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A number of research analysts have commented on SO shares. Jefferies Group LLC reissued a “buy” rating and set a $55.00 target price (down previously from $56.00) on shares of Southern Company (The) in a research report on Thursday, May 4th. BidaskClub raised shares of Southern Company (The) from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Royal Bank Of Canada cut their price objective on shares of Southern Company (The) from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 28th. Barclays PLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Southern Company (The) in a research report on Tuesday, July 25th. Finally, Macquarie raised shares of Southern Company (The) from a “neutral” rating to an “outperform” rating and set a $52.00 price objective on the stock in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.79.

In other news, EVP Christopher C. Womack sold 75,144 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total value of $3,703,847.76. Following the completion of the sale, the executive vice president now directly owns 85,298 shares in the company, valued at approximately $4,204,338.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann P. Daiss sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $51.28, for a total value of $256,400.00. Following the completion of the sale, the insider now 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 quarter. Company insiders own 0.74% 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.

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

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