First National Bank of Omaha Has $9.39 Million Position in Southern Company (The) $SO

Key Points

• First National Bank of Omaha increased its Southern Company stake by 181.8% in the fourth quarter, ending with 107,421 shares valued at about $9.39 million.
• Southern reported strong quarterly results, posting $1.32 EPS versus the $1.21 consensus and revenue of $8.40 billion, up 8% year over year.
• The company raised its dividend to $0.76 per share quarterly, implying an annualized payout of $3.04 and a 3.2% yield; analysts currently rate the stock a Hold with a consensus price target of $99.38.

First National Bank of Omaha lifted its position in shares of Southern Company (The) (NYSE:SO - Free Report) by 181.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,421 shares of the utilities provider's stock after acquiring an additional 69,305 shares during the period. First National Bank of Omaha's holdings in Southern were worth $9,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strive Asset Management LLC bought a new stake in shares of Southern during the 3rd quarter worth approximately $37,000. Spirepoint Private Client LLC lifted its holdings in shares of Southern by 13.3% during the 4th quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider's stock worth $8,513,000 after acquiring an additional 11,460 shares during the period. Caprock Group LLC bought a new stake in shares of Southern during the 3rd quarter worth approximately $1,584,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Southern by 243.3% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 20,816 shares of the utilities provider's stock worth $1,815,000 after acquiring an additional 14,753 shares during the period. Finally, Marble Wealth LLC bought a new stake in shares of Southern during the 4th quarter worth approximately $4,443,000. Institutional investors own 64.10% of the company's stock.

Analyst Upgrades and Downgrades

SO has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Southern from $103.00 to $100.00 and set a "hold" rating for the company in a report on Friday, May 29th. Raymond James Financial reissued an "outperform" rating and issued a $104.00 price objective on shares of Southern in a research note on Friday, May 1st. TD Cowen increased their price objective on shares of Southern from $108.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, March 6th. KeyCorp raised shares of Southern from an "underweight" rating to a "sector weight" rating in a research note on Wednesday, March 4th. Finally, Mizuho set a $105.00 price objective on shares of Southern in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $99.38.

Southern Price Performance

Shares of NYSE:SO opened at $93.90 on Friday. The company has a market cap of $105.85 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.82 and a beta of 0.34. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a 50 day simple moving average of $93.95 and a 200 day simple moving average of $91.95. Southern Company has a one year low of $83.80 and a one year high of $100.83.

Southern (NYSE:SO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. The business had revenue of $8.40 billion during 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%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Research analysts predict that Southern Company will post 4.58 earnings per share for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, May 18th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Southern's previous quarterly dividend of $0.74. The ex-dividend date was Monday, May 18th. Southern's dividend payout ratio (DPR) is presently 77.35%.

Insiders Place Their Bets

In other news, 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 transaction of $2,416,750.00. Following the transaction, the chief executive officer owned 103,602 shares in the company, valued at approximately $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of Southern 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 transaction, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. This trade represents a 17.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

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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