Anchyra Partners LLC Purchases Shares of 34,736 Southern Company (The) $SO

Key Points

• Anchyra Partners LLC initiated a new position in Southern Company (SO), acquiring 34,736 shares worth about $3.03 million, roughly 0.9% of its portfolio and its 13th largest holding.
• Company insiders recently sold meaningful stakes—EVP Christopher Cummiskey sold 6,669 shares and CEO Kimberly S. Greene sold 25,000 shares—reducing their holdings by about 17.8% and 19.4% respectively (insiders own 0.16% of the stock).
• Southern raised its quarterly dividend to $0.76 (annualized $3.04) for a yield of ~3.3%, with an ex-dividend date of May 18 and payment on June 8.

Anchyra Partners LLC acquired a new position in Southern Company (The) (NYSE:SO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,736 shares of the utilities provider's stock, valued at approximately $3,029,000. Southern accounts for approximately 0.9% of Anchyra Partners LLC's portfolio, making the stock its 13th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC grew its holdings in Southern by 0.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 21,461 shares of the utilities provider's stock valued at $2,034,000 after buying an additional 105 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Southern by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 15,230 shares of the utilities provider's stock worth $1,443,000 after acquiring an additional 105 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in Southern by 2.1% during the third quarter. Cornerstone Wealth Management LLC now owns 5,155 shares of the utilities provider's stock valued at $489,000 after acquiring an additional 108 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Southern by 4.1% during the third quarter. Gateway Investment Advisers LLC now owns 2,768 shares of the utilities provider's stock valued at $262,000 after acquiring an additional 109 shares in the last quarter. Finally, PDS Planning Inc increased its holdings in Southern by 1.8% in the 3rd quarter. PDS Planning Inc now owns 6,145 shares of the utilities provider's stock valued at $582,000 after acquiring an additional 111 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Southern

In related news, EVP Christopher Cummiskey sold 6,669 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the sale, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. This represents a 17.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of the firm's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the sale, the chief executive officer owned 103,602 shares of the company's stock, valued at approximately $10,015,205.34. This represents a 19.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays boosted their price target on shares of Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Evercore raised Southern from an "in-line" rating to an "outperform" rating and set a $111.00 target price on the stock in a report on Thursday, March 5th. Morgan Stanley decreased their target price on Southern from $94.00 to $92.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 21st. Jefferies Financial Group reissued a "hold" rating and set a $102.00 price target on shares of Southern in a research note on Monday, February 23rd. Finally, Citigroup restated a "buy" rating on shares of Southern in a report on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $99.08.

Southern Stock Performance

Shares of NYSE:SO opened at $93.52 on Monday. The firm has a fifty day simple moving average of $95.78 and a two-hundred day simple moving average of $92.12. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $105.52 billion, a P/E ratio of 23.80, a PEG ratio of 2.82 and a beta of 0.41.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $6.98 billion for the quarter, compared to analysts' expectations of $6.41 billion. Southern had a net margin of 14.69% and a return on equity of 12.52%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, analysts expect that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.3%. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. Southern's dividend payout ratio (DPR) is currently 75.32%.

About Southern

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.

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