Axxcess Wealth Management LLC Buys 41,483 Shares of Southern Company (The) $SO

Key Points

• Axxcess Wealth Management LLC increased its stake in Southern Company by 245.7% in the fourth quarter, buying 41,483 additional shares to bring its total holding to 58,369 shares worth about $5.09 million.
• Southern’s stock has seen mixed analyst sentiment, with a consensus rating of Hold and an average price target of $99.56, though several firms recently raised targets or reiterated buy ratings.
• The company reported better-than-expected earnings of $1.32 per share on $8.40 billion in revenue, and it also raised its quarterly dividend to $0.76 per share, implying a 3.2% annualized yield.

Axxcess Wealth Management LLC grew its stake in shares of Southern Company (The) (NYSE:SO - Free Report) by 245.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,369 shares of the utilities provider's stock after buying an additional 41,483 shares during the period. Axxcess Wealth Management LLC's holdings in Southern were worth $5,090,000 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. Cloud Capital Management LLC acquired a new stake in shares of Southern during the third quarter worth about $25,000. Triumph Capital Management acquired a new stake in shares of Southern during the third quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Southern during the fourth quarter worth about $31,000. Legacy Wealth Managment LLC ID acquired a new stake in shares of Southern during the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of Southern during the fourth quarter worth about $33,000. Institutional investors own 64.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Southern in a research report on Friday, April 10th. TD Cowen raised their price target on Southern from $108.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Evercore raised Southern from an "in-line" rating to an "outperform" rating and set a $111.00 price target on the stock in a research report on Thursday, March 5th. Morgan Stanley reaffirmed an "underweight" rating and set a $87.00 price target on shares of Southern in a research report on Thursday. Finally, Barclays raised their price target on Southern from $88.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Southern currently has a consensus rating of "Hold" and a consensus price target of $99.56.

Insider Buying and Selling

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 30,800 shares of the company's stock, valued at $2,973,740. The trade was a 17.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kimberly S. Greene sold 25,000 shares of the business'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 value of $2,416,750.00. Following the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

Southern Stock Up 0.5%

Shares of Southern stock opened at $94.67 on Friday. The business's 50 day simple moving average is $95.06 and its 200 day simple moving average is $91.79. Southern Company has a 52-week low of $83.80 and a 52-week high of $100.83. The firm has a market cap of $106.72 billion, a PE ratio of 24.09, a P/E/G ratio of 2.86 and a beta of 0.36. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.45 and a current ratio of 0.65.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.11. Southern had a return on equity of 12.64% and a net margin of 14.46%.The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter last year, the firm earned $1.23 EPS. Southern's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts predict that Southern Company will post 4.57 earnings per share for the current fiscal year.

Southern Increases Dividend

The company also recently announced 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 of this dividend is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. This is a boost from Southern's previous quarterly dividend of $0.74. Southern's payout ratio is 77.35%.

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.

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