HB Wealth Management LLC Has $11.31 Million Stock Position in The Southern Company (NYSE:SO)

HB Wealth Management LLC raised its stake in shares of The Southern Company (NYSE:SOGet Rating) by 21.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,532 shares of the utilities provider’s stock after purchasing an additional 28,368 shares during the quarter. HB Wealth Management LLC’s holdings in Southern were worth $11,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SO. Ritholtz Wealth Management boosted its holdings in shares of Southern by 27.5% in the 2nd quarter. Ritholtz Wealth Management now owns 11,286 shares of the utilities provider’s stock worth $805,000 after acquiring an additional 2,434 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Southern by 7.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 4,884 shares of the utilities provider’s stock worth $357,000 after acquiring an additional 344 shares in the last quarter. Juncture Wealth Strategies LLC boosted its holdings in shares of Southern by 2.2% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 11,663 shares of the utilities provider’s stock worth $832,000 after acquiring an additional 252 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Southern by 29.8% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 97,717 shares of the utilities provider’s stock worth $6,968,000 after acquiring an additional 22,458 shares in the last quarter. Finally, Adviser Investments LLC boosted its holdings in shares of Southern by 30.4% in the 2nd quarter. Adviser Investments LLC now owns 23,468 shares of the utilities provider’s stock worth $1,674,000 after acquiring an additional 5,469 shares in the last quarter. 62.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern

In other news, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $79.47, for a total transaction of $1,152,315.00. Following the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $9,161,619.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Stephen E. Kuczynski sold 14,500 shares of Southern stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $79.47, for a total value of $1,152,315.00. Following the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $9,161,619.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Y. Kerr II sold 25,000 shares of Southern stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $76.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,987 shares in the company, valued at $10,411,012. The disclosure for this sale can be found here. Insiders have sold a total of 54,000 shares of company stock valued at $4,109,655 in the last three months. 0.37% of the stock is currently owned by company insiders.

Southern Stock Performance

NYSE:SO traded down $1.21 during mid-day trading on Friday, hitting $74.73. The stock had a trading volume of 75,724 shares, compared to its average volume of 3,439,184. The Southern Company has a twelve month low of $60.99 and a twelve month high of $80.57. The stock has a market cap of $79.44 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 5.24 and a beta of 0.50. The company’s 50 day simple moving average is $77.03 and its 200 day simple moving average is $74.00. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.67 and a current ratio of 0.85.

Southern (NYSE:SOGet Rating) last issued its earnings results on Thursday, July 28th. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.23. Southern had a net margin of 12.13% and a return on equity of 12.09%. The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the business posted $0.84 EPS. Southern’s revenue was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that The Southern Company will post 3.63 earnings per share for the current year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were issued a $0.68 dividend. The ex-dividend date was Friday, August 12th. This represents a $2.72 annualized dividend and a yield of 3.64%. Southern’s dividend payout ratio is currently 95.77%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Argus upped their price objective on Southern from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. The Goldman Sachs Group upped their price objective on shares of Southern from $53.00 to $61.00 and gave the company a “sell” rating in a research report on Monday, August 22nd. Morgan Stanley lowered their price objective on shares of Southern from $69.00 to $68.00 and set an “underweight” rating for the company in a research report on Thursday. Seaport Res Ptn reaffirmed a “buy” rating on shares of Southern in a research note on Thursday, June 30th. Finally, Guggenheim upped their target price on shares of Southern from $76.00 to $80.00 in a research note on Thursday, July 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Southern has an average rating of “Hold” and a consensus target price of $75.58.

About Southern

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

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