Schroder Investment Management Group Has $6.36 Million Holdings in Southern Company (The) (SO)
Schroder Investment Management Group cut its holdings in shares of Southern Company (The) (NYSE:SO) by 73.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,987 shares of the utilities provider’s stock after selling 354,036 shares during the quarter. Schroder Investment Management Group’s holdings in Southern were worth $6,362,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Chicago Partners Investment Group LLC bought a new stake in shares of Southern in the 2nd quarter valued at about $100,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Southern in the 3rd quarter valued at about $105,000. Monroe Bank & Trust MI raised its holdings in shares of Southern by 17.9% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 350 shares during the period. AlphaMark Advisors LLC raised its holdings in shares of Southern by 0.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 14 shares during the period. Finally, Barnett & Company Inc. raised its holdings in shares of Southern by 25.0% in the 2nd quarter. Barnett & Company Inc. now owns 2,725 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 545 shares during the period. 53.78% of the stock is currently owned by hedge funds and other institutional investors.
In other Southern news, CEO William P. Bowers sold 85,151 shares of the 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 is available at this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the transaction, the vice president now owns 26,000 shares in the company, valued at approximately $1,356,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,813 shares of company stock worth $11,029,988. Company insiders own 1.00% of the company’s stock.
A number of equities research analysts have recently issued reports on SO shares. Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Citigroup reissued a “sell” rating and issued a $44.00 price target (up from $43.00) on shares of Southern in a report on Tuesday, October 3rd. Zacks Investment Research cut shares of Southern from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Mizuho raised shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Tuesday, September 5th. Finally, KeyCorp reissued a “hold” rating on shares of Southern in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.92.
Southern Company (NYSE:SO) traded down $0.21 during trading on Friday, reaching $51.31. 9,391,314 shares of the company’s stock traded hands, compared to its average volume of 4,176,924. The company has a market cap of $51,706.92, a PE ratio of 18.74, a P/E/G ratio of 3.88 and a beta of 0.13. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.57 and a current ratio of 0.73. Southern Company has a 52-week low of $46.71 and a 52-week high of $53.51.
Southern (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. equities analysts forecast that Southern Company will post 2.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given a dividend of $0.58 per share. The ex-dividend date was Friday, November 17th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.52%. Southern’s payout ratio is presently 414.29%.
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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