Cahaba Wealth Management Inc. Has $20.78 Million Stake in The Southern Company (NYSE:SO)

Cahaba Wealth Management Inc. grew its position in shares of The Southern Company (NYSE:SOFree Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,281 shares of the utilities provider’s stock after buying an additional 10,736 shares during the quarter. Southern makes up about 2.1% of Cahaba Wealth Management Inc.’s investment portfolio, making the stock its 11th largest holding. Cahaba Wealth Management Inc.’s holdings in Southern were worth $20,775,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Southern in the 4th quarter valued at approximately $435,979,000. Moneta Group Investment Advisors LLC bought a new position in shares of Southern in the 4th quarter valued at approximately $369,131,000. Ameriprise Financial Inc. raised its stake in shares of Southern by 38.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock valued at $488,461,000 after acquiring an additional 2,096,988 shares in the last quarter. Imprint Wealth LLC raised its stake in shares of Southern by 5,840.2% in the 2nd quarter. Imprint Wealth LLC now owns 1,949,392 shares of the utilities provider’s stock valued at $194,939,000 after acquiring an additional 1,916,575 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Southern by 5.0% in the 3rd quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock valued at $2,518,045,000 after acquiring an additional 1,838,857 shares in the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Trading Up 0.4 %

NYSE SO traded up $0.25 on Tuesday, reaching $71.35. The company had a trading volume of 3,829,476 shares, compared to its average volume of 4,572,321. The stock’s 50 day moving average is $68.59 and its 200-day moving average is $68.89. The stock has a market cap of $77.84 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 4.48 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. The Southern Company has a 52 week low of $61.56 and a 52 week high of $75.80.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Southern had a return on equity of 11.40% and a net margin of 15.79%. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was down 14.2% on a year-over-year basis. Equities analysts predict that The Southern Company will post 4 earnings per share for the current year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.80 annualized dividend and a dividend yield of 3.92%. Southern’s dividend payout ratio (DPR) is currently 77.14%.

Wall Street Analyst Weigh In

Several brokerages have commented on SO. BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 price target (up from $72.00) on shares of Southern in a research report on Monday. Wells Fargo & Company dropped their price target on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Southern in a research report on Wednesday, February 21st. Citigroup assumed coverage on Southern in a report on Friday, December 8th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, Mizuho lifted their price objective on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.00.

View Our Latest Report on Southern

Insiders Place Their Bets

In other news, EVP Christopher Cummiskey sold 899 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Christopher Cummiskey sold 899 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the transaction, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Poroch sold 10,099 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $69.96, for a total value of $706,526.04. Following the transaction, the insider now directly owns 28,691 shares of the company’s stock, valued at $2,007,222.36. The disclosure for this sale can be found here. Insiders sold 25,998 shares of company stock worth $1,806,063 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

About Southern

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.