TIAA Trust National Association Sells 724 Shares of The Southern Company (NYSE:SO)

TIAA Trust National Association lowered its position in The Southern Company (NYSE:SOFree Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,842 shares of the utilities provider’s stock after selling 724 shares during the quarter. TIAA Trust National Association’s holdings in Southern were worth $2,794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new position in Southern in the 2nd quarter valued at $27,000. Intrepid Capital Management Inc. purchased a new stake in shares of Southern during the second quarter valued at $30,000. BKM Wealth Management LLC bought a new position in shares of Southern in the fourth quarter worth about $34,000. Sanctuary Wealth Management L.L.C. purchased a new position in Southern in the 4th quarter worth about $34,000. Finally, VitalStone Financial LLC purchased a new stake in Southern in the 2nd quarter valued at about $35,000. Institutional investors own 64.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SO shares. Mizuho lifted their price target on shares of Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays dropped their price target on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Citigroup initiated coverage on Southern in a report on Friday, December 8th. They issued a “buy” rating and a $82.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 target price on shares of Southern in a report on Wednesday, February 21st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.00.

Get Our Latest Report on SO

Insider Buying and Selling

In other Southern news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the sale, the chief executive officer now owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total transaction of $359,950.00. Following the transaction, the chief executive officer now owns 101,284 shares in the company, valued at approximately $7,291,435.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David P. Poroch sold 10,099 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the transaction, the insider now directly owns 28,691 shares in the company, valued at approximately $2,007,222.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,998 shares of company stock worth $1,806,063. 0.28% of the stock is owned by company insiders.

Southern Trading Down 0.5 %

Southern stock opened at $70.98 on Thursday. The Southern Company has a 12-month low of $61.56 and a 12-month high of $75.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The stock has a market capitalization of $77.70 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.49. The firm has a 50 day simple moving average of $68.64 and a 200-day simple moving average of $68.89.

Southern (NYSE:SOGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. Southern’s revenue was down 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities research analysts expect that The Southern Company will post 4 EPS for the current fiscal year.

Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, February 16th. Southern’s dividend payout ratio (DPR) is 77.14%.

Southern Profile

(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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