Peapack Gladstone Financial Corp lowered its position in shares of Southern Company (The) (NYSE:SO) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,092 shares of the utilities provider’s stock after selling 7,158 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Southern Company (The) were worth $3,117,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SO. BlackRock Inc. increased its holdings in shares of Southern Company (The) by 2,961.9% during the first quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after acquiring an additional 60,040,696 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Southern Company (The) by 3,580.1% during the second quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after acquiring an additional 4,546,503 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Southern Company (The) by 25.3% during the second quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after acquiring an additional 3,015,226 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Southern Company (The) by 4.1% during the first quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after acquiring an additional 2,688,854 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Southern Company (The) by 3.6% during the second quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after acquiring an additional 770,413 shares in the last quarter. 52.88% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on SO shares. Guggenheim upgraded Southern Company (The) from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $56.00 in a report on Thursday, September 14th. Citigroup Inc. reiterated a “sell” rating and issued a $44.00 price objective (up from $43.00) on shares of Southern Company (The) in a report on Tuesday, October 3rd. Zacks Investment Research downgraded Southern Company (The) from a “buy” rating to a “hold” rating in a report on Friday, October 13th. BidaskClub upgraded Southern Company (The) from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Southern Company (The) in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.72.

In other Southern Company (The) news, CEO William P. Bowers sold 85,151 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total value of $4,257,550.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares in the company, valued at $1,356,160. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock worth $11,029,988 over the last three months. Insiders own 0.74% of the company’s stock.

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Southern Company (NYSE:SO) opened at $51.36 on Monday. The stock has a market capitalization of $51,550.00, a PE ratio of 18.68, a price-to-earnings-growth ratio of 4.64 and a beta of 0.15. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57. Southern Company has a 12-month low of $46.20 and a 12-month high of $53.51.

Southern Company (The) (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Southern Company (The) had a return on equity of 10.81% and a net margin of 2.59%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. equities analysts anticipate that Southern Company will post 2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be given a $0.58 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.32 annualized dividend and a yield of 4.52%. Southern Company (The)’s payout ratio is 414.29%.

Southern Company (The) Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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