Corebridge Financial Inc. Sells 7,446 Shares of Southern Company (The) $SO

Key Points

• Corebridge Financial Inc. reduced its stake in Southern Company by 3.0% in the first quarter, now holding 244,376 shares worth approximately $22.47 million.
• Southern Company reported an earnings miss in Q2, with earnings per share at $0.91, compared to the consensus estimate of $0.99, despite a revenue increase to $6.97 billion.
• The company recently announced a quarterly dividend of $0.74, equating to an annualized yield of 3.2%, with a payout ratio of 76.09%.

Corebridge Financial Inc. lowered its position in Southern Company (The) (NYSE:SO - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,376 shares of the utilities provider's stock after selling 7,446 shares during the period. Corebridge Financial Inc.'s holdings in Southern were worth $22,470,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Investors Research Corp raised its holdings in shares of Southern by 400.0% in the first quarter. Investors Research Corp now owns 270 shares of the utilities provider's stock valued at $25,000 after buying an additional 216 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of Southern during the 1st quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Southern during the 1st quarter worth about $33,000. Accredited Wealth Management LLC acquired a new position in shares of Southern in the 1st quarter valued at approximately $36,000. Finally, Rossby Financial LCC acquired a new position in shares of Southern in the 1st quarter valued at approximately $39,000. 64.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SO. Wall Street Zen downgraded Southern from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. BMO Capital Markets boosted their target price on Southern from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Guggenheim reaffirmed a "neutral" rating and issued a $93.00 price objective on shares of Southern in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on Southern from $97.00 to $98.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, Evercore ISI increased their target price on Southern from $90.00 to $94.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $94.92.

Insider Buying and Selling at Southern

In other news, CEO Kimberly S. Greene sold 13,158 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $1,250,010.00. Following the transaction, the chief executive officer owned 93,661 shares in the company, valued at $8,897,795. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Southern Stock Up 0.1%

NYSE SO traded up $0.10 on Friday, hitting $92.34. 3,227,614 shares of the company were exchanged, compared to its average volume of 5,117,155. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.69. Southern Company has a 12 month low of $80.46 and a 12 month high of $96.44. The stock has a fifty day moving average of $93.38 and a 200-day moving average of $90.80. The company has a market cap of $101.58 billion, a PE ratio of 23.74, a PEG ratio of 3.22 and a beta of 0.38.

Southern (NYSE:SO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.08). Southern had a net margin of 15.10% and a return on equity of 12.09%. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the business posted $1.10 EPS. The company's revenue was up 7.9% on a year-over-year basis. Southern has set its Q3 2025 guidance at 1.500-1.500 EPS. FY 2025 guidance at 4.200-4.300 EPS. As a group, analysts forecast that Southern Company will post 4.29 earnings per share for the current year.

Southern Announces Dividend

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 issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, August 18th. Southern's dividend payout ratio (DPR) is currently 76.09%.

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.