The Southern Company (NYSE:SO) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its position in The Southern Company (NYSE:SO) by 13.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,752 shares of the utilities provider’s stock after buying an additional 7,316 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Southern were worth $5,166,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Stanley Laman Group Ltd. grew its stake in shares of Southern by 3.8% during the 3rd quarter. Stanley Laman Group Ltd. now owns 3,246 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 119 shares during the period. Abel Hall LLC grew its stake in shares of Southern by 1.8% during the 3rd quarter. Abel Hall LLC now owns 6,830 shares of the utilities provider’s stock worth $616,000 after purchasing an additional 120 shares during the period. DT Investment Partners LLC grew its stake in shares of Southern by 5.8% during the 3rd quarter. DT Investment Partners LLC now owns 2,201 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 121 shares during the period. Birchcreek Wealth Management LLC grew its stake in shares of Southern by 4.5% during the 3rd quarter. Birchcreek Wealth Management LLC now owns 2,836 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 121 shares during the period. Finally, Truvestments Capital LLC grew its stake in shares of Southern by 4.3% during the 3rd quarter. Truvestments Capital LLC now owns 3,011 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 123 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Southern

In other news, EVP Martin Bernard Davis sold 1,170 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $85.90, for a total transaction of $100,503.00. Following the transaction, the executive vice president now directly owns 88,393 shares in the company, valued at $7,592,958.70. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Southern Price Performance

NYSE:SO opened at $85.47 on Tuesday. The firm has a market cap of $93.64 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average is $83.37 and its two-hundred day moving average is $86.71. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45.

Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.88 annualized dividend and a dividend yield of 3.37%. Southern’s payout ratio is currently 66.98%.

Analyst Ratings Changes

SO has been the topic of a number of recent analyst reports. Guggenheim cut shares of Southern from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. BMO Capital Markets lowered their price objective on shares of Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Barclays increased their price objective on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Mizuho increased their price objective on shares of Southern from $83.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lowered their price objective on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.79.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.