Gulf International Bank UK Ltd Grows Stake in Southern Co (SO)
Gulf International Bank UK Ltd grew its holdings in shares of Southern Co (NYSE:SO) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 247,181 shares of the utilities provider’s stock after purchasing an additional 11,578 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Southern were worth $12,774,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Old Port Advisors purchased a new stake in Southern in the 1st quarter worth approximately $205,000. Financial Architects Inc increased its holdings in Southern by 11.7% in the 4th quarter. Financial Architects Inc now owns 17,924 shares of the utilities provider’s stock worth $787,000 after acquiring an additional 1,877 shares in the last quarter. American Asset Management Inc. increased its holdings in Southern by 13.4% in the 4th quarter. American Asset Management Inc. now owns 13,520 shares of the utilities provider’s stock worth $594,000 after acquiring an additional 1,595 shares in the last quarter. Rampart Investment Management Company LLC increased its holdings in Southern by 168.3% in the 4th quarter. Rampart Investment Management Company LLC now owns 77,416 shares of the utilities provider’s stock worth $3,400,000 after acquiring an additional 48,561 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Southern by 1.2% in the 4th quarter. LPL Financial LLC now owns 795,878 shares of the utilities provider’s stock worth $34,955,000 after acquiring an additional 9,686 shares in the last quarter. 56.89% of the stock is owned by hedge funds and other institutional investors.
Shares of SO opened at $51.96 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 1.40. Southern Co has a 1 year low of $42.42 and a 1 year high of $52.98. The company has a market cap of $54.08 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 3.86 and a beta of 0.20.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.62 per share. This is a positive change from Southern’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, May 17th. Southern’s dividend payout ratio (DPR) is 78.18%.
Several equities research analysts recently issued reports on the stock. ValuEngine lowered shares of Southern from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research lowered shares of Southern from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. reissued a “sell” rating on shares of Southern in a report on Wednesday, February 13th. SunTrust Banks reissued a “hold” rating and issued a $52.00 target price on shares of Southern in a report on Monday, February 25th. Finally, Citigroup raised shares of Southern from a “sell” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $50.00 in a report on Thursday, January 24th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Southern currently has an average rating of “Hold” and a consensus target price of $47.15.
In other news, Director Henry A. Clark III bought 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $50.19 per share, for a total transaction of $100,380.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $100,380. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen E. Kuczynski sold 7,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $51.68, for a total value of $361,760.00. Following the transaction, the chief executive officer now owns 77,772 shares of the company’s stock, valued at $4,019,256.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,341 shares of company stock valued at $19,342,988. Insiders own 0.73% of the company’s stock.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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