Southern Company (The) $SO Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Southern Company (The) (NYSE:SO) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 1,418,722 shares of the utilities provider’s stock after selling 6,533 shares during the period. Principal Financial Group Inc.’s holdings in Southern were worth $134,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in Southern in the third quarter valued at approximately $25,000. Ameriflex Group Inc. lifted its stake in Southern by 275.0% during the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 220 shares during the period. Advantage Trust Co lifted its stake in Southern by 1,428.6% during the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Southern in the 3rd quarter valued at $29,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Southern in the third quarter worth $34,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Down 1.2%

Shares of SO opened at $88.20 on Tuesday. The firm has a market cap of $97.12 billion, a P/E ratio of 21.83, a PEG ratio of 2.70 and a beta of 0.45. Southern Company has a 12 month low of $82.78 and a 12 month high of $100.83. The stock’s 50 day moving average is $87.50 and its two-hundred day moving average is $91.57. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.69.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.4%. Southern’s dividend payout ratio is currently 73.27%.

Analyst Ratings Changes

SO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. UBS Group lowered their target price on Southern from $98.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Wall Street Zen lowered Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. KeyCorp decreased their price target on Southern from $87.00 to $76.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Finally, Mizuho dropped their price objective on shares of Southern from $97.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.91.

About Southern

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.