Oxford Financial Group Ltd. acquired a new stake in shares of The Southern Company (NYSE:SO – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,980 shares of the utilities provider’s stock, valued at approximately $209,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Drive Wealth Management LLC raised its holdings in Southern by 9.9% in the second quarter. Drive Wealth Management LLC now owns 3,171 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 286 shares in the last quarter. Capital City Trust Co. FL bought a new position in shares of Southern in the 2nd quarter worth about $306,000. Berkeley Capital Partners LLC lifted its position in Southern by 3.5% during the 1st quarter. Berkeley Capital Partners LLC now owns 14,463 shares of the utilities provider’s stock valued at $1,006,000 after acquiring an additional 485 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Southern by 1,073.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 880 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 805 shares in the last quarter. Finally, Gratus Capital LLC grew its holdings in Southern by 3.9% in the second quarter. Gratus Capital LLC now owns 6,186 shares of the utilities provider’s stock worth $435,000 after purchasing an additional 233 shares during the period. 62.85% of the stock is currently owned by institutional investors.
Southern Stock Down 0.7 %
SO opened at $69.77 on Monday. The firm’s 50 day simple moving average is $67.64 and its two-hundred day simple moving average is $69.38. The company has a market capitalization of $76.09 billion, a PE ratio of 25.19, a PEG ratio of 4.86 and a beta of 0.55. The Southern Company has a 1-year low of $58.85 and a 1-year high of $75.80. The company has a current ratio of 0.84, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59.
Southern Announces Dividend
Insider Buying and Selling at Southern
In other news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $67.83, for a total transaction of $339,150.00. Following the transaction, the chief executive officer now directly owns 121,284 shares of the company’s stock, valued at approximately $8,226,693.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Martin Bernard Davis sold 1,490 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.05, for a total value of $99,904.50. Following the transaction, the executive vice president now directly owns 72,756 shares in the company, valued at $4,878,289.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $67.83, for a total value of $339,150.00. Following the sale, the chief executive officer now owns 121,284 shares of the company’s stock, valued at approximately $8,226,693.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,490 shares of company stock valued at $2,146,405. Company insiders own 0.28% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SO. Royal Bank of Canada raised their price objective on Southern from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, September 6th. Bank of America upgraded shares of Southern from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $67.00 to $68.00 in a research note on Wednesday, September 13th. BMO Capital Markets decreased their target price on shares of Southern from $72.00 to $70.00 and set a “market perform” rating for the company in a report on Thursday, August 31st. Scotiabank downgraded shares of Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 price target for the company. in a research report on Friday, November 3rd. Finally, Wells Fargo & Company decreased their price target on Southern from $75.00 to $74.00 in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.00.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.
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