Southern Company (The) (NYSE:SO) Shares Sold by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance reduced its stake in Southern Company by 9.8%, holding 126,160 shares valued at approximately $11.6 million after selling 13,759 shares.
• Southern Company's stock recently opened at $94.75 and has a market capitalization of $104.23 billion, with a debt-to-equity ratio of 1.69.
• The company announced a quarterly dividend of $0.74 per share, representing an annualized yield of 3.1%, with the ex-dividend date on August 18th.

Independent Advisor Alliance lessened its stake in Southern Company (The) (NYSE:SO - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,160 shares of the utilities provider's stock after selling 13,759 shares during the period. Independent Advisor Alliance's holdings in Southern were worth $11,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SO. GAMMA Investing LLC increased its holdings in Southern by 23.2% in the first quarter. GAMMA Investing LLC now owns 21,253 shares of the utilities provider's stock valued at $1,954,000 after buying an additional 4,005 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Southern by 4.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,645 shares of the utilities provider's stock worth $427,000 after acquiring an additional 182 shares during the last quarter. Coastal Bridge Advisors LLC boosted its position in Southern by 0.4% during the first quarter. Coastal Bridge Advisors LLC now owns 32,627 shares of the utilities provider's stock worth $3,000,000 after acquiring an additional 119 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Southern in the 1st quarter valued at $945,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Southern by 4.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 398,624 shares of the utilities provider's stock valued at $32,815,000 after purchasing an additional 15,923 shares during the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Stock Down 0.6%

Southern stock traded down $0.54 during midday trading on Thursday, hitting $94.25. 5,252,452 shares of the stock were exchanged, compared to its average volume of 5,203,480. Southern Company has a 1 year low of $80.46 and a 1 year high of $96.44. The firm has a market cap of $103.68 billion, a P/E ratio of 24.23, a P/E/G ratio of 3.25 and a beta of 0.38. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.74 and a quick ratio of 0.54. The company has a 50 day moving average price of $92.26 and a two-hundred day moving average price of $90.04.

Southern (NYSE:SO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.08). Southern had a return on equity of 12.09% and a net margin of 15.10%. The firm had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.70 billion. During the same period last year, the firm earned $1.10 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Southern Company will post 4.29 earnings per share for the current fiscal year.

Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 18th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.96 annualized dividend and a dividend yield of 3.1%. Southern's payout ratio is presently 76.09%.

Wall Street Analyst Weigh In

SO has been the topic of a number of research analyst reports. Scotiabank lifted their price target on shares of Southern from $98.00 to $99.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Barclays lifted their price target on shares of Southern from $90.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Raymond James Financial initiated coverage on shares of Southern in a report on Friday, June 13th. They issued an "outperform" rating and a $98.00 price target on the stock. Jefferies Financial Group upgraded shares of Southern from a "hold" rating to a "buy" rating and decreased their price target for the company from $102.00 to $100.00 in a report on Thursday, June 5th. Finally, Wells Fargo & Company raised their target price on shares of Southern from $95.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Southern currently has an average rating of "Hold" and an average price target of $94.29.

Insider Buying and Selling at Southern

In related news, CEO Kimberly S. Greene sold 13,158 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $1,250,010.00. Following the completion of the sale, 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 accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Southern Company 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.