Southern Co (SO) Shares Sold by Amica Pension Fund Board of Trustees
Amica Pension Fund Board of Trustees lowered its stake in Southern Co (NYSE:SO) by 43.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,981 shares of the utilities provider’s stock after selling 22,571 shares during the quarter. Amica Pension Fund Board of Trustees’ holdings in Southern were worth $1,264,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Global X Management Co LLC boosted its stake in Southern by 1.5% during the 2nd quarter. Global X Management Co LLC now owns 207,501 shares of the utilities provider’s stock worth $9,609,000 after purchasing an additional 3,164 shares during the last quarter. Korea Investment CORP boosted its stake in Southern by 31.7% during the 2nd quarter. Korea Investment CORP now owns 367,006 shares of the utilities provider’s stock worth $16,996,000 after purchasing an additional 88,300 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Southern by 9.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 876,977 shares of the utilities provider’s stock worth $38,233,000 after purchasing an additional 75,812 shares during the last quarter. Centaurus Financial Inc. boosted its stake in Southern by 187.2% during the 2nd quarter. Centaurus Financial Inc. now owns 20,495 shares of the utilities provider’s stock worth $949,000 after purchasing an additional 13,359 shares during the last quarter. Finally, Anchor Capital Advisors LLC acquired a new stake in Southern during the 2nd quarter worth $234,000. 56.97% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SO. Bank of America raised shares of Southern from an “underperform” rating to a “neutral” rating and set a $46.00 target price on the stock in a research note on Wednesday, October 10th. SunTrust Banks reaffirmed a “hold” rating and set a $48.00 target price on shares of Southern in a research note on Thursday, November 8th. Credit Suisse Group cut shares of Southern from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $46.00 to $43.00 in a research note on Thursday, August 9th. Scotiabank reaffirmed a “hold” rating and set a $44.00 target price on shares of Southern in a research note on Thursday, August 9th. Finally, Barclays boosted their price target on shares of Southern from $48.00 to $49.00 and gave the company a “hold” rating in a research report on Monday. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $46.32.
Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Southern had a net margin of 10.35% and a return on equity of 12.88%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, analysts forecast that Southern Co will post 3.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 19th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 annualized dividend and a dividend yield of 5.26%. Southern’s payout ratio is 79.47%.
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Southern Company Profile
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.
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