Securian Asset Management Inc. Has $2.61 Million Position in Southern Company (The) $SO

Key Points

• Securian Asset Management reduced its Southern Company stake by 43.6% in the fourth quarter, leaving it with 29,941 shares worth about $2.61 million.
• Southern beat quarterly expectations, reporting EPS of $1.32 versus $1.21 expected and revenue of $8.40 billion, up 8% year over year.
• The company also raised its quarterly dividend to $0.76 per share from $0.74, implying an annualized yield of about 3.3%.

Securian Asset Management Inc. cut its holdings in Southern Company (The) (NYSE:SO - Free Report) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,941 shares of the utilities provider's stock after selling 23,184 shares during the quarter. Securian Asset Management Inc.'s holdings in Southern were worth $2,611,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SO. Cloud Capital Management LLC acquired a new stake in Southern in the third quarter valued at approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Southern in the third quarter valued at approximately $29,000. Triumph Capital Management acquired a new stake in Southern in the third quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Southern in the fourth quarter valued at approximately $31,000. Finally, Legacy Wealth Managment LLC ID acquired a new stake in Southern in the fourth quarter valued at approximately $33,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Kimberly S. Greene sold 25,000 shares of the business's 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christopher Cummiskey sold 6,669 shares of the business's 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 directly owned 30,800 shares in the company, valued at $2,973,740. This trade represents a 17.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on SO. Barclays lifted their target price on shares of Southern from $88.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Morgan Stanley reduced their target price on shares of Southern from $94.00 to $92.00 and set an "underweight" rating for the company in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Southern from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 1st. BMO Capital Markets reissued an "outperform" rating on shares of Southern in a research report on Friday, February 20th. Finally, Mizuho set a $105.00 price target on shares of Southern in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $99.85.

Southern Trading Up 1.4%

NYSE:SO opened at $93.10 on Tuesday. Southern Company has a 12 month low of $83.09 and a 12 month high of $100.83. The firm has a market cap of $104.95 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.78 and a beta of 0.36. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. The company's 50 day moving average is $95.67 and its 200-day moving average is $91.86.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, April 30th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Southern's revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate 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 represents a $3.04 dividend on an annualized basis and a yield of 3.3%. This is an increase from Southern's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, May 18th. Southern's payout ratio is presently 75.32%.

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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