Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $4.17 Million Position in Southern Company (The) $SO

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new position in Southern Company during the fourth quarter, buying 47,861 shares worth about $4.17 million.
• Southern reported better-than-expected quarterly earnings, posting $1.32 EPS versus estimates of $1.21 and revenue of $8.40 billion versus expectations of $8.07 billion, with revenue up 8% year over year.
• The utility raised its quarterly dividend to $0.76 per share from $0.74, putting the annualized payout at $3.04 and the dividend yield at about 3.2%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Southern Company (The) (NYSE:SO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 47,861 shares of the utilities provider's stock, valued at approximately $4,173,000.

A number of other hedge funds also recently bought and sold shares of SO. Vanguard Group Inc. lifted its holdings in shares of Southern by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 108,057,413 shares of the utilities provider's stock valued at $9,422,606,000 after purchasing an additional 1,643,090 shares in the last quarter. Capital World Investors raised its position in Southern by 320.3% during the third quarter. Capital World Investors now owns 33,548,852 shares of the utilities provider's stock valued at $3,179,425,000 after buying an additional 25,567,431 shares during the period. Legal & General Group Plc lifted its stake in Southern by 3.5% in the 3rd quarter. Legal & General Group Plc now owns 8,532,530 shares of the utilities provider's stock worth $808,628,000 after acquiring an additional 285,546 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Southern by 6.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,265,347 shares of the utilities provider's stock valued at $371,938,000 after acquiring an additional 255,230 shares in the last quarter. Finally, Soroban Capital Partners LP increased its holdings in shares of Southern by 83.8% in the 2nd quarter. Soroban Capital Partners LP now owns 4,097,422 shares of the utilities provider's stock valued at $376,266,000 after purchasing an additional 1,867,912 shares during the period. 64.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Southern

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the sale, the executive vice president directly owned 30,800 shares in the company, valued at $2,973,740. This represents a 17.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction on Monday, March 30th. The shares were 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 of the company's stock, valued at approximately $10,015,205.34. The trade was 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 insiders.

Southern Stock Down 0.5%

NYSE SO opened at $93.68 on Thursday. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83. The stock has a market cap of $105.61 billion, a PE ratio of 23.84, a PEG ratio of 2.85 and a beta of 0.36. The firm has a 50-day simple moving average of $95.13 and a 200 day simple moving average of $91.77. 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 quarterly earnings data 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. The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. On average, research analysts forecast that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The business 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 dividend of $0.76 per share. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 annualized dividend and a dividend yield of 3.2%. Southern's dividend payout ratio is 77.35%.

Analysts Set New Price Targets

A number of research firms recently commented on SO. Citigroup restated a "buy" rating on shares of Southern in a report on Friday, April 10th. Mizuho set a $105.00 price objective on Southern in a research note on Friday, May 1st. Jefferies Financial Group reissued a "hold" rating and set a $102.00 price objective on shares of Southern in a research report on Monday, February 23rd. Barclays raised their target price on Southern from $88.00 to $99.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $105.00 price target on shares of Southern in a research report on Friday, January 23rd. 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 stock. According to MarketBeat.com, Southern presently has a consensus rating of "Hold" and an average target price of $99.85.

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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