Rock Creek Group LP trimmed its holdings in shares of The Southern Company (NYSE:SO) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,830 shares of the utilities provider’s stock after selling 303 shares during the period. Rock Creek Group LP’s holdings in The Southern were worth $232,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JFS Wealth Advisors LLC lifted its stake in The Southern by 530.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 416 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 350 shares during the period. BDO Wealth Advisors LLC acquired a new position in shares of The Southern in the 1st quarter valued at $28,000. Alpha DNA Investment Management LLC lifted its stake in shares of The Southern by 35.2% in the 1st quarter. Alpha DNA Investment Management LLC now owns 591 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 154 shares during the period. Sterling Investment Advisors Ltd. lifted its stake in shares of The Southern by 40.0% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 700 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 200 shares during the period. Finally, Total Clarity Wealth Management Inc. acquired a new position in shares of The Southern in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 59.30% of the company’s stock.
The Southern stock opened at $65.97 on Wednesday. The Southern Company has a 52-week low of $52.01 and a 52-week high of $67.54. The firm has a market capitalization of $69.85 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 4.01 and a beta of 0.45. The company has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $63.53. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.46.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 16th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, August 13th. The Southern’s payout ratio is 81.23%.
Several research firms recently issued reports on SO. Credit Suisse Group reiterated a “buy” rating on shares of The Southern in a research note on Wednesday, May 19th. Morgan Stanley boosted their target price on shares of The Southern from $60.00 to $64.00 and gave the company an “underweight” rating in a research note on Thursday, August 19th. Wells Fargo & Company reiterated a “buy” rating on shares of The Southern in a research note on Monday, August 2nd. Barclays boosted their target price on shares of The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, May 25th. Finally, Guggenheim upgraded shares of The Southern from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, September 7th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.69.
In related news, EVP Martin Bernard Davis sold 7,000 shares of the company’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $64.61, for a total value of $452,270.00. Following the completion of the sale, the executive vice president now owns 28,089 shares of the company’s stock, valued at $1,814,830.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 2,500 shares of the company’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $67.04, for a total transaction of $167,600.00. Following the completion of the sale, the chief executive officer now directly owns 89,151 shares of the company’s stock, valued at approximately $5,976,683.04. The disclosure for this sale can be found here. Insiders have sold 87,247 shares of company stock valued at $5,813,034 in the last ninety days. Insiders own 0.43% of the company’s stock.
The Southern Profile
The Southern Co is a holding company. The firm engages in the sale of electricity. It operates through the following segments: Traditional Electric Operating Companies, Southern Power and Southern Company Gas. The Traditional Electric Operating Companies segment refers to vertically integrated utilities that own generation, transmission and distribution facilities, and supplies electric services in the states of Alabama, Georgia, Florida, and Mississippi.
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