Southern Co (SO) Shares Sold by Family Legacy Inc.
Family Legacy Inc. cut its stake in shares of Southern Co (NYSE:SO) by 31.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,600 shares of the utilities provider’s stock after selling 12,830 shares during the quarter. Southern accounts for about 3.6% of Family Legacy Inc.’s holdings, making the stock its 12th biggest holding. Family Legacy Inc.’s holdings in Southern were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Southern by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 71,053,604 shares of the utilities provider’s stock worth $3,402,047,000 after acquiring an additional 2,295,466 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Southern by 2,961.9% in the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock worth $3,089,736,000 after acquiring an additional 60,040,696 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Southern by 3.6% in the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock worth $1,071,547,000 after acquiring an additional 770,413 shares during the last quarter. Capital Research Global Investors raised its holdings in Southern by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after buying an additional 3,015,226 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Southern by 8.2% during the 1st quarter. Geode Capital Management LLC now owns 9,573,271 shares of the utilities provider’s stock valued at $475,877,000 after buying an additional 724,650 shares during the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.
In other news, EVP Christopher C. Womack sold 46,641 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $53.00, for a total value of $2,471,973.00. Following the sale, the executive vice president now directly owns 56,799 shares of the company’s stock, valued at approximately $3,010,347. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William P. Bowers sold 85,151 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock worth $11,029,988 over the last ninety days. Insiders own 0.74% of the company’s stock.
A number of equities research analysts recently commented on SO shares. Zacks Investment Research lowered shares of Southern from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Jefferies Group reiterated a “buy” rating and set a $56.00 price target (up from $55.00) on shares of Southern in a report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Southern in a report on Friday, September 1st. Mizuho upgraded shares of Southern from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, September 5th. Finally, Bank of America reiterated an “underperform” rating and set a $51.00 price target on shares of Southern in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.92.
Southern Co (SO) opened at $48.50 on Tuesday. 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 stock has a market cap of $48,675.96, a price-to-earnings ratio of 86.61, a price-to-earnings-growth ratio of 3.65 and a beta of 0.13. Southern Co has a 1 year low of $46.71 and a 1 year high of $53.51.
Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.16 billion. Southern had a net margin of 2.59% and a return on equity of 10.81%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. equities research analysts predict that Southern Co will post 2.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Friday, November 17th. Southern’s payout ratio is currently 414.29%.
Southern 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.
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