Concord Asset Management LLC VA Grows Stake in Southern Company (The) $SO

Key Points

• Concord Asset Management LLC VA increased its stake in Southern Company by 13.6% in the second quarter, holding 44,504 shares valued at approximately $4.08 million.
• Southern Company recently declared a quarterly dividend of $0.74 per share, leading to an annualized dividend yield of 3.0% and indicating a payout ratio of 76.09%.
• Analysts have mixed views on Southern Company's stock, with a current consensus rating of "Hold" and a target price averaging $96.31.

Concord Asset Management LLC VA raised its stake in Southern Company (The) (NYSE:SO - Free Report) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,504 shares of the utilities provider's stock after acquiring an additional 5,323 shares during the quarter. Concord Asset Management LLC VA's holdings in Southern were worth $4,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. boosted its stake in Southern by 275.0% in the second quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 220 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Southern during the 1st quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new stake in shares of Southern during the 1st quarter valued at approximately $33,000. Accredited Wealth Management LLC purchased a new stake in shares of Southern during the 1st quarter valued at approximately $36,000. Finally, Saudi Central Bank purchased a new stake in shares of Southern during the 1st quarter valued at approximately $40,000. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SO shares. Scotiabank restated a "sector perform" rating and set a $99.00 price target on shares of Southern in a research note on Friday, October 3rd. Mizuho upped their price target on shares of Southern from $93.00 to $95.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Wall Street Zen cut shares of Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays upped their price target on shares of Southern from $90.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI began coverage on shares of Southern in a research note on Monday, October 6th. They set an "in-line" rating and a $103.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Southern presently has a consensus rating of "Hold" and a consensus target price of $96.31.

Insider Activity at Southern

In other news, CEO Kimberly S. Greene sold 13,158 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $95.00, for a total value of $1,250,010.00. Following the transaction, the chief executive officer owned 93,661 shares of the company's stock, valued at $8,897,795. This represents a 12.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by insiders.

Southern Stock Performance

Southern stock opened at $98.23 on Monday. The firm's 50 day simple moving average is $93.62 and its 200 day simple moving average is $91.74. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $108.06 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.43. Southern Company has a 1-year low of $80.46 and a 1-year high of $98.36.

Southern (NYSE:SO - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.70 billion. Southern had a return on equity of 12.09% and a net margin of 15.10%.The business's revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Southern has set its Q3 2025 guidance at 1.500-1.500 EPS. FY 2025 guidance at 4.200-4.300 EPS. As a group, analysts expect that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 18th were issued a $0.74 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.0%. Southern's dividend payout ratio is presently 76.09%.

Southern Profile

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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