50,957 Shares in Southern Company (The) $SO Purchased by Marble Wealth LLC

Key Points

• Marble Wealth LLC opened a new position in Southern Company, buying 50,957 shares valued at about $4.44 million in the fourth quarter.
• Southern posted better-than-expected quarterly earnings of $1.32 per share on $8.40 billion in revenue, and it raised its quarterly dividend to $0.76 per share for a 3.4% yield.
• Analysts are mixed on the stock, with Southern carrying an overall Hold rating and an average price target of $99.38; meanwhile, both the CEO and an EVP sold shares earlier this year.

Marble Wealth LLC purchased a new position in shares of Southern Company (The) (NYSE:SO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 50,957 shares of the utilities provider's stock, valued at approximately $4,443,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mccarter Private Wealth Services LLC acquired a new position in Southern during the 4th quarter worth about $378,000. Capital Innovations LLC acquired a new position in Southern during the 4th quarter worth about $10,104,000. Kesler Norman & Wride LLC acquired a new position in Southern during the 4th quarter worth about $507,000. Bridges Investment Management Inc. lifted its position in Southern by 5.3% during the 4th quarter. Bridges Investment Management Inc. now owns 5,334 shares of the utilities provider's stock worth $465,000 after buying an additional 270 shares in the last quarter. Finally, Calton & Associates Inc. lifted its position in Southern by 14.6% during the 4th quarter. Calton & Associates Inc. now owns 6,183 shares of the utilities provider's stock worth $539,000 after buying an additional 786 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company's stock.

Southern Stock Performance

Shares of NYSE:SO opened at $90.42 on Wednesday. The company has a market capitalization of $101.93 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.69 and a beta of 0.34. The firm's 50 day simple moving average is $94.47 and its 200 day simple moving average is $91.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. Southern Company has a fifty-two week low of $83.80 and a fifty-two week high of $100.83.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.11. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. Southern's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. As a group, sell-side analysts forecast that Southern Company will post 4.58 earnings per share for the current year.

Southern Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a $0.76 dividend. The ex-dividend date is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change from Southern's previous quarterly dividend of $0.74. Southern's dividend payout ratio is 77.35%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SO. Scotiabank upped their price target on shares of Southern from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Seaport Research Partners lowered shares of Southern from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Wells Fargo & Company set a $96.00 target price on shares of Southern and gave the stock an "equal weight" rating in a report on Friday, February 20th. Jefferies Financial Group reaffirmed a "hold" rating and set a $102.00 target price on shares of Southern in a report on Monday, February 23rd. Finally, Evercore raised shares of Southern from an "in-line" rating to an "outperform" rating and set a $111.00 target price for the company in a report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Southern currently has an average rating of "Hold" and an average target price of $99.38.

Insider Buying and Selling

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by corporate insiders.

Southern Company Profile

Southern Company NYSE: SO is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern's principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.