Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its position in shares of Southern Co (NYSE:SO) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,282 shares of the utilities provider’s stock after selling 3,959 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Southern were worth $11,926,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Bank OZK boosted its holdings in shares of Southern by 1.4% in the 4th quarter. Bank OZK now owns 18,368 shares of the utilities provider’s stock worth $1,170,000 after acquiring an additional 256 shares in the last quarter. Bessemer Group Inc. raised its position in Southern by 3.5% in the 4th quarter. Bessemer Group Inc. now owns 11,945 shares of the utilities provider’s stock valued at $761,000 after purchasing an additional 400 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Southern by 9.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 9,693 shares of the utilities provider’s stock worth $617,000 after purchasing an additional 837 shares in the last quarter. Security National Trust Co. grew its holdings in shares of Southern by 15.6% during the fourth quarter. Security National Trust Co. now owns 1,850 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 250 shares during the last quarter. Finally, ARP Americas LP acquired a new stake in shares of Southern in the fourth quarter valued at $2,198,000. Institutional investors own 58.84% of the company’s stock.
Shares of Southern stock traded up $0.75 during trading on Friday, reaching $54.58. 4,407,150 shares of the company were exchanged, compared to its average volume of 5,260,371. The business has a 50-day moving average price of $55.58 and a 200-day moving average price of $61.17. The firm has a market capitalization of $56.90 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 4.26 and a beta of 0.44. The company has a quick ratio of 0.78, a current ratio of 0.99 and a debt-to-equity ratio of 1.44. Southern Co has a twelve month low of $41.96 and a twelve month high of $71.10.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be paid a dividend of $0.64 per share. This is a positive change from Southern’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.56 annualized dividend and a yield of 4.69%. Southern’s dividend payout ratio (DPR) is presently 82.32%.
In other Southern news, Director Ernest J. Moniz bought 3,500 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was purchased at an average cost of $54.72 per share, with a total value of $191,520.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $191,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,000 shares of the stock in a transaction dated Friday, April 3rd. The stock was sold at an average price of $51.59, for a total value of $103,180.00. Following the completion of the sale, the chief executive officer now owns 84,396 shares of the company’s stock, valued at $4,353,989.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,843 shares of company stock valued at $881,346. Corporate insiders own 0.39% of the company’s stock.
A number of equities research analysts have commented on SO shares. ValuEngine lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Seaport Global Securities initiated coverage on shares of Southern in a research note on Wednesday. They set a “buy” rating and a $60.00 price target on the stock. Credit Suisse Group raised shares of Southern from an “underperform” rating to a “neutral” rating and raised their price target for the company from $60.00 to $61.00 in a report on Monday, May 4th. Morgan Stanley reduced their price objective on Southern from $57.00 to $52.00 and set an “underweight” rating on the stock in a report on Friday, May 15th. Finally, Wolfe Research raised Southern from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $61.90.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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