iSAM Funds UK Ltd Sells 14,737 Shares of Southern Company (The) $SO

Key Points

• iSAM Funds UK Ltd cut its Southern Company stake by 59.3% in the second quarter, selling 14,737 shares and retaining 10,100 shares valued at approximately $967,000.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $100.09; ratings include seven Buys, eleven Holds and two Sells.
• Southern reported quarterly EPS of $1.13, beating estimates of $1.01, and announced a quarterly dividend of $0.76, equivalent to a 3.4% annualized yield.

iSAM Funds UK Ltd reduced its position in Southern Company (The) (NYSE:SO - Free Report) by 59.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,100 shares of the utilities provider's stock after selling 14,737 shares during the quarter. iSAM Funds UK Ltd's holdings in Southern were worth $967,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Southern by 17.5% in the 1st quarter. Empowered Funds LLC now owns 34,003 shares of the utilities provider's stock worth $3,127,000 after acquiring an additional 5,067 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Southern by 0.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 59,217 shares of the utilities provider's stock valued at $5,438,000 after purchasing an additional 393 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Southern during the 2nd quarter valued at $655,000. Sei Investments Co. raised its position in Southern by 11.5% in the 2nd quarter. Sei Investments Co. now owns 449,960 shares of the utilities provider's stock worth $41,320,000 after purchasing an additional 46,504 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Southern by 2.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 514,736 shares of the utilities provider's stock worth $47,268,000 after purchasing an additional 13,392 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Southern from $101.00 to $104.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $99.00 price objective on Southern in a report on Monday, June 22nd. Morgan Stanley lowered their target price on Southern from $92.00 to $89.00 and set an "underweight" rating for the company in a research note on Friday, August 21st. Mizuho set a $106.00 target price on Southern in a report on Friday, July 31st. Finally, Wall Street Zen lowered Southern from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Southern currently has a consensus rating of "Hold" and a consensus target price of $100.09.

Southern Trading Up 0.3%

Shares of SO opened at $88.32 on Thursday. The stock has a market capitalization of $101.60 billion, a P/E ratio of 21.18, a PEG ratio of 2.35 and a beta of 0.33. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 1.62. The firm has a fifty day simple moving average of $93.73 and a two-hundred day simple moving average of $94.35. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.12. Southern had a net margin of 15.43% and a return on equity of 12.93%. The business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter last year, the firm earned $0.79 EPS. The company's revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that Southern Company will post 4.59 EPS for the current year.

Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.04 annualized dividend and a dividend yield of 3.4%. Southern's dividend payout ratio (DPR) is presently 72.90%.

Southern 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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