Wellington Management Group LLP Has $39.61 Million Stake in Southern Company (The) (SO)

Wellington Management Group LLP raised its position in Southern Company (The) (NYSE:SO) by 34.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 795,727 shares of the utilities provider’s stock after buying an additional 202,787 shares during the period. Wellington Management Group LLP owned 0.08% of Southern Company (The) worth $39,612,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Southern Company (The) by 2.2% in the first quarter. Principal Financial Group Inc. now owns 1,397,908 shares of the utilities provider’s stock worth $69,588,000 after buying an additional 29,858 shares during the last quarter. TLP Group LLC acquired a new position in Southern Company (The) during the first quarter worth approximately $368,000. OppenheimerFunds Inc. increased its position in Southern Company (The) by 31.3% in the first quarter. OppenheimerFunds Inc. now owns 512,062 shares of the utilities provider’s stock worth $25,490,000 after buying an additional 122,207 shares during the last quarter. CFO4Life Group LLC acquired a new position in Southern Company (The) during the first quarter worth approximately $555,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in Southern Company (The) during the first quarter worth approximately $2,183,000. 53.57% of the stock is owned by institutional investors.

Shares of Southern Company (NYSE:SO) opened at 49.00 on Tuesday. The firm has a market cap of $48.97 billion, a PE ratio of 80.59 and a beta of 0.12. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.73. The company’s 50 day moving average is $48.60 and its 200-day moving average is $49.48.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. Southern Company (The)’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that Southern Company will post $2.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 21st will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, August 17th. This represents a $2.32 annualized dividend and a yield of 4.73%. Southern Company (The)’s dividend payout ratio is 346.27%.

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A number of research firms have recently commented on SO. BidaskClub raised shares of Southern Company (The) from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group raised shares of Southern Company (The) from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. J P Morgan Chase & Co began coverage on shares of Southern Company (The) in a report on Tuesday, August 1st. They set an “overweight” rating for the company. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $53.00 price objective on shares of Southern Company (The) in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Southern Company (The) currently has an average rating of “Hold” and a consensus target price of $51.54.

In related news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the completion of the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at $4,204,338.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Lantrip sold 25,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total transaction of $1,287,500.00. Following the sale, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The disclosure for this sale can be found here. Insiders have sold 152,084 shares of company stock valued at $7,665,158 in the last ninety days. 0.74% of the stock is currently owned by company insiders.

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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