Private Asset Management Inc. Has $4.03 Million Stake in Southern Company (The) (SO)

Private Asset Management Inc. lowered its stake in shares of Southern Company (The) (NYSE:SO) by 95.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,028 shares of the utilities provider’s stock after selling 84,596 shares during the period. Private Asset Management Inc.’s holdings in Southern Company (The) were worth $4,028,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SO. Chicago Partners Investment Group LLC bought a new stake in shares of Southern Company (The) during the 2nd quarter worth approximately $100,000. Monroe Bank & Trust MI raised its stake in shares of Southern Company (The) by 17.9% during the 2nd quarter. Monroe Bank & Trust MI now owns 2,300 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 350 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Southern Company (The) by 0.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,363 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 14 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Southern Company (The) by 15.3% during the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 302 shares in the last quarter. Finally, Ruggie Capital Group raised its stake in shares of Southern Company (The) by 228.0% during the 1st quarter. Ruggie Capital Group now owns 2,578 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,792 shares in the last quarter. Institutional investors own 52.64% of the company’s stock.

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A number of equities research analysts recently weighed in on SO shares. Barclays PLC restated a “buy” rating and issued a $54.00 price target on shares of Southern Company (The) in a research note on Tuesday, July 25th. Deutsche Bank AG upgraded Southern Company (The) from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $52.00 in a research note on Tuesday, August 1st. Mizuho upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Tuesday, September 5th. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price target (up previously from $55.00) on shares of Southern Company (The) in a research note on Tuesday, September 12th. Finally, Guggenheim upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Southern Company (The) currently has an average rating of “Hold” and a consensus target price of $49.72.

In other news, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the sale, the vice president now directly owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 213,813 shares of company stock worth $11,029,988 in the last quarter. Company insiders own 0.74% of the company’s stock.

Southern Company (NYSE SO) opened at $50.97 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $51,154.92, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 4.60 and a beta of 0.15. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.51.

Southern Company (The) (NYSE:SO) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 EPS. sell-side analysts forecast that Southern Company will post 2.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s payout ratio is 414.29%.

Southern Company (The) 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.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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