Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in Southern Co (NYSE:SO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 143,174 shares of the utilities provider’s stock, valued at approximately $7,036,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cornerstone Capital Inc. boosted its stake in Southern by 3.6% in the 3rd quarter. Cornerstone Capital Inc. now owns 149,682 shares of the utilities provider’s stock worth $7,355,000 after purchasing an additional 5,136 shares during the period. Stifel Financial Corp boosted its position in shares of Southern by 6.0% during the 3rd quarter. Stifel Financial Corp now owns 1,705,146 shares of the utilities provider’s stock valued at $83,779,000 after acquiring an additional 96,301 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Southern by 78.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 134,768 shares of the utilities provider’s stock valued at $6,622,000 after acquiring an additional 59,302 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Southern by 6.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 111,938 shares of the utilities provider’s stock valued at $5,501,000 after acquiring an additional 7,200 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Southern by 10.9% during the 3rd quarter. KBC Group NV now owns 118,335 shares of the utilities provider’s stock valued at $5,815,000 after acquiring an additional 11,617 shares during the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.
In related news, VP James Y. Kerr II sold 25,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the transaction, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Art P. Beattie sold 46,941 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $52.50, for a total value of $2,464,402.50. Following the transaction, the insider now directly owns 59,494 shares in the company, valued at approximately $3,123,435. The disclosure for this sale can be found here. Insiders have sold 128,662 shares of company stock worth $6,772,438 in the last three months. 0.74% of the stock is currently owned by corporate insiders.
SO has been the subject of a number of analyst reports. Zacks Investment Research upgraded Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America reiterated an “underperform” rating and issued a $51.00 target price on shares of Southern in a research note on Tuesday, October 24th. SunTrust Banks reiterated a “hold” rating and issued a $52.00 target price on shares of Southern in a research note on Friday, October 20th. Guggenheim upgraded Southern from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $56.00 in a research note on Thursday, September 14th. Finally, Mizuho restated a “buy” rating and set a $55.00 price target on shares of Southern in a research note on Friday, December 8th. Four 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. The company currently has a consensus rating of “Hold” and a consensus target price of $49.25.
Southern Co (SO) traded down $0.71 during trading on Thursday, hitting $45.25. The stock had a trading volume of 6,856,800 shares, compared to its average volume of 6,578,226. 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 Co has a 1-year low of $45.08 and a 1-year high of $53.51. The stock has a market capitalization of $45,410.00, a PE ratio of 80.80, a PEG ratio of 3.45 and a beta of 0.14.
Southern (NYSE:SO) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Southern had a return on equity of 10.81% and a net margin of 2.59%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. equities analysts forecast that Southern Co will post 2.96 EPS for the current fiscal year.
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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.
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