The Southern Company (NYSE:SO) Shares Purchased by Johnson Financial Group Inc.

Johnson Financial Group Inc. boosted its position in The Southern Company (NYSE:SOFree Report) by 162.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,977 shares of the utilities provider’s stock after acquiring an additional 1,224 shares during the quarter. Johnson Financial Group Inc.’s holdings in Southern were worth $139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SO. BKM Wealth Management LLC purchased a new stake in shares of Southern in the fourth quarter worth about $34,000. Valley National Advisers Inc. boosted its position in shares of Southern by 63.9% in the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock worth $36,000 after buying an additional 205 shares during the period. Cassady Schiller Wealth Management LLC boosted its position in shares of Southern by 46.3% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 556 shares of the utilities provider’s stock worth $39,000 after buying an additional 176 shares during the period. Atticus Wealth Management LLC boosted its position in shares of Southern by 30.4% in the third quarter. Atticus Wealth Management LLC now owns 652 shares of the utilities provider’s stock worth $42,000 after buying an additional 152 shares during the period. Finally, Cetera Trust Company N.A purchased a new stake in shares of Southern in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Activity

In other news, CEO Kimberly S. Greene sold 9,126 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the transaction, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kimberly S. Greene sold 9,126 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $75.04, for a total value of $684,815.04. Following the completion of the transaction, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $68.92, for a total value of $344,600.00. Following the completion of the transaction, the chief executive officer now directly owns 126,528 shares of the company’s stock, valued at $8,720,309.76. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SO. Mizuho boosted their price target on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Scotiabank cut their price target on Southern from $80.00 to $77.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Barclays boosted their price target on Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Bank of America boosted their price target on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price target on shares of Southern in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Read Our Latest Report on Southern

Southern Trading Up 0.8 %

Shares of NYSE SO opened at $77.75 on Monday. The stock has a market capitalization of $85.11 billion, a P/E ratio of 20.09, a PEG ratio of 3.22 and a beta of 0.48. The stock’s 50 day moving average price is $73.40 and its two-hundred day moving average price is $70.81. The Southern Company has a 52-week low of $61.56 and a 52-week high of $80.14. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67.

Southern (NYSE:SOGet Free Report) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.90 by $0.13. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. Southern had a return on equity of 12.07% and a net margin of 16.74%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. On average, analysts anticipate that The Southern Company will post 3.99 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.70%. Southern’s dividend payout ratio is 74.42%.

About Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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