Southern Co. (SO) Shares Sold by Agran Libbie
Agran Libbie reduced its position in shares of Southern Co. (NYSE:SO) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,874 shares of the company’s stock after selling 1,200 shares during the period. Agran Libbie’s holdings in Southern were worth $2,138,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Southern by 18.8% in the first quarter. IFP Advisors Inc now owns 147,339 shares of the company’s stock worth $7,622,000 after buying an additional 23,362 shares during the period. Virginia Retirement System acquired a new position in Southern during the first quarter worth $11,507,000. Nisa Investment Advisors L.L.C. increased its position in Southern by 3.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 172,700 shares of the company’s stock worth $8,934,000 after buying an additional 5,400 shares during the period. Community Bank & Trust Waco Texas increased its position in shares of Southern by 9.8% in the first quarter. Community Bank & Trust Waco Texas now owns 55,640 shares of the company’s stock worth $2,878,000 after buying an additional 4,985 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Southern during the first quarter worth approximately $1,031,000. 48.64% of the stock is owned by institutional investors and hedge funds.
Shares of Southern Co. (NYSE:SO) traded down 1.13% during mid-day trading on Monday, reaching $50.72. 5,459,095 shares of the company’s stock traded hands. Southern Co. has a 12-month low of $43.38 and a 12-month high of $54.64. The firm has a 50-day moving average of $51.90 and a 200 day moving average of $51.43. The company has a market cap of $47.76 billion, a P/E ratio of 20.13 and a beta of 0.08.
Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Southern Co. will post $2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were issued a $0.56 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.24 annualized dividend and a dividend yield of 4.42%. Southern’s dividend payout ratio is currently 87.50%.
A number of brokerages have recently commented on SO. Jefferies Group reissued a “hold” rating on shares of Southern in a research report on Monday, July 11th. Argus reissued a “buy” rating on shares of Southern in a research report on Wednesday, June 15th. Mizuho reissued a “hold” rating and issued a $50.00 price objective on shares of Southern in a research report on Monday, July 11th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $54.00 price objective on shares of Southern in a research report on Thursday, July 14th. Finally, Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.50.
In other news, CEO Mark Lantrip sold 35,884 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $54.00, for a total value of $1,937,736.00. Following the completion of the sale, the chief executive officer now owns 41,934 shares in the company, valued at $2,264,436. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kimberly S. Greene sold 141,818 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $54.00, for a total transaction of $7,658,172.00. Following the completion of the sale, the chief operating officer now owns 177,686 shares of the company’s stock, valued at approximately $9,595,044. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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