AXS Investments LLC reduced its stake in shares of The Southern Company (NYSE:SO – Free Report) by 34.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413 shares of the utilities provider’s stock after selling 214 shares during the period. AXS Investments LLC’s holdings in Southern were worth $29,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Southern in the fourth quarter valued at about $435,979,000. Moneta Group Investment Advisors LLC acquired a new stake in Southern in the 4th quarter valued at approximately $369,131,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Southern by 586.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,564,201 shares of the utilities provider’s stock worth $387,157,000 after buying an additional 4,753,465 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Southern by 162.4% during the first quarter. Wellington Management Group LLP now owns 6,572,373 shares of the utilities provider’s stock worth $457,306,000 after buying an additional 4,067,395 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Southern by 150.3% in the first quarter. Ameriprise Financial Inc. now owns 5,617,965 shares of the utilities provider’s stock valued at $390,896,000 after acquiring an additional 3,373,118 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.
Southern Price Performance
Shares of Southern stock opened at $69.44 on Tuesday. The Southern Company has a 1-year low of $58.85 and a 1-year high of $75.80. The firm’s 50-day moving average price is $67.67 and its two-hundred day moving average price is $69.34. The company has a current ratio of 0.84, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $75.73 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 4.86 and a beta of 0.55.
Southern Dividend Announcement
Analysts Set New Price Targets
SO has been the subject of several research analyst reports. Scotiabank cut shares of Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 target price for the company. in a research note on Friday, November 3rd. Bank of America upgraded shares of Southern from an “underperform” rating to a “neutral” rating and increased their target price for the company from $67.00 to $68.00 in a research note on Wednesday, September 13th. StockNews.com upgraded Southern from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Morgan Stanley reduced their price objective on Southern from $69.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. Finally, Guggenheim lowered their price objective on Southern from $80.00 to $72.00 in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.00.
Insider Transactions at Southern
In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $66.00, for a total value of $330,000.00. Following the completion of the sale, the chief executive officer now owns 116,284 shares of the company’s stock, valued at $7,674,744. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Southern news, EVP Martin Bernard Davis sold 1,490 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $67.05, for a total transaction of $99,904.50. Following the transaction, the executive vice president now directly owns 72,756 shares in the company, valued at approximately $4,878,289.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $66.00, for a total transaction of $330,000.00. Following the completion of the transaction, the chief executive officer now directly owns 116,284 shares in the company, valued at approximately $7,674,744. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,490 shares of company stock worth $2,146,405. Corporate insiders own 0.28% of the company’s stock.
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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