OLD Republic International Corp Has $62.08 Million Stock Holdings in Southern Company (The) $SO

OLD Republic International Corp cut its holdings in shares of Southern Company (The) (NYSE:SO) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,900 shares of the utilities provider’s stock after selling 59,100 shares during the period. Southern comprises approximately 2.5% of OLD Republic International Corp’s portfolio, making the stock its 12th largest position. OLD Republic International Corp’s holdings in Southern were worth $62,078,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SO. Strive Asset Management LLC acquired a new position in shares of Southern in the 3rd quarter worth approximately $37,000. Donaldson Capital Management LLC lifted its position in shares of Southern by 2,785.8% in the 3rd quarter. Donaldson Capital Management LLC now owns 563,027 shares of the utilities provider’s stock worth $53,358,000 after purchasing an additional 543,517 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Southern in the 3rd quarter worth approximately $4,852,000. Spirepoint Private Client LLC lifted its position in shares of Southern by 13.3% in the 4th quarter. Spirepoint Private Client LLC now owns 97,631 shares of the utilities provider’s stock worth $8,513,000 after purchasing an additional 11,460 shares during the period. Finally, National Pension Service lifted its position in shares of Southern by 1.8% in the 3rd quarter. National Pension Service now owns 2,753,676 shares of the utilities provider’s stock worth $260,966,000 after purchasing an additional 47,451 shares during the period. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Performance

NYSE:SO opened at $94.67 on Friday. The company has a fifty day moving average of $95.06 and a 200-day moving average of $91.79. The firm has a market capitalization of $106.72 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.86 and a beta of 0.36. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a twelve month low of $83.80 and a twelve month high of $100.83.

Southern (NYSE:SO) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.11. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.07 billion. Southern had a net margin of 14.46% and a return on equity of 12.64%. Southern’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, sell-side analysts anticipate that Southern Company will post 4.57 EPS for the current year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.76 per share. This is a boost from Southern’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, May 18th. This represents a $3.04 dividend on an annualized basis and a yield of 3.2%. Southern’s dividend payout ratio (DPR) is presently 77.35%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SO shares. Barclays boosted their price target on shares of Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. TD Cowen boosted their price target on shares of Southern from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Morgan Stanley reiterated an “underweight” rating and issued a $87.00 price objective on shares of Southern in a research note on Thursday. Seaport Research Partners lowered shares of Southern from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Scotiabank lifted their price objective on shares of Southern from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.56.

Insiders Place Their Bets

In other Southern news, EVP Christopher Cummiskey sold 6,669 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of the sale, the executive vice president owned 30,800 shares in the company, valued at approximately $2,973,740. The trade was a 17.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 25,000 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $96.67, for a total transaction of $2,416,750.00. Following the sale, the chief executive officer owned 103,602 shares of the company’s stock, valued at $10,015,205.34. This trade represents a 19.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Southern Company Profile

Southern Company (NYSE: SO) is an Atlanta-based energy holding company that provides electric and gas utility services and owns power generation assets across the United States. Founded in 1945, the company operates a portfolio of regulated electric utilities and affiliated businesses that generate, transmit and distribute electricity to residential, commercial and industrial customers.

Southern’s principal regulated electric subsidiaries include Georgia Power, Alabama Power and Mississippi Power, which serve large portions of the southeastern United States.