Insight Wealth Strategies LLC Has $239,000 Position in The Southern Company (NYSE:SO)

Insight Wealth Strategies LLC lowered its position in shares of The Southern Company (NYSE:SO) by 6.7% in the first quarter, Holdings Channel reports. The firm owned 3,844 shares of the utilities provider’s stock after selling 274 shares during the period. Insight Wealth Strategies LLC’s holdings in The Southern were worth $239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sheets Smith Wealth Management raised its stake in The Southern by 0.7% in the 1st quarter. Sheets Smith Wealth Management now owns 20,775 shares of the utilities provider’s stock valued at $1,291,000 after acquiring an additional 153 shares during the period. Alpha DNA Investment Management LLC increased its position in shares of The Southern by 35.2% during the first quarter. Alpha DNA Investment Management LLC now owns 591 shares of the utilities provider’s stock valued at $36,000 after buying an additional 154 shares during the period. Gleason Group Inc. increased its position in shares of The Southern by 1.1% during the first quarter. Gleason Group Inc. now owns 14,581 shares of the utilities provider’s stock valued at $906,000 after buying an additional 161 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of The Southern by 2.0% during the first quarter. Flagship Harbor Advisors LLC now owns 8,079 shares of the utilities provider’s stock valued at $502,000 after buying an additional 161 shares during the period. Finally, OLD National Bancorp IN increased its position in shares of The Southern by 2.3% during the first quarter. OLD National Bancorp IN now owns 7,658 shares of the utilities provider’s stock valued at $476,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 59.09% of the company’s stock.

NYSE:SO opened at $63.88 on Friday. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.93 and a beta of 0.44. The Southern Company has a fifty-two week low of $50.40 and a fifty-two week high of $66.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.64 and a current ratio of 0.82. The company’s 50 day moving average is $64.45.

The Southern (NYSE:SO) last announced its earnings results on Thursday, April 29th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.44 billion. The Southern had a return on equity of 11.28% and a net margin of 15.99%. As a group, equities research analysts forecast that The Southern Company will post 3.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 7th. Investors of record on Monday, May 17th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, May 14th. This is an increase from The Southern’s previous quarterly dividend of $0.64. The Southern’s dividend payout ratio is currently 81.23%.

Several brokerages have recently weighed in on SO. Barclays upped their price target on The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Wells Fargo & Company boosted their price objective on The Southern from $71.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Credit Suisse Group reissued a “buy” rating on shares of The Southern in a report on Wednesday, May 19th. KeyCorp boosted their price objective on The Southern from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Finally, Mizuho cut their price objective on The Southern from $61.00 to $59.00 and set an “underperform” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $67.08.

In other The Southern news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $64.13, for a total value of $160,325.00. Following the completion of the transaction, the chief executive officer now owns 91,651 shares in the company, valued at $5,877,578.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ann P. Daiss sold 5,549 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $62.75, for a total value of $348,199.75. Following the completion of the transaction, the insider now owns 18,666 shares of the company’s stock, valued at approximately $1,171,291.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,474 shares of company stock valued at $2,778,346. 0.43% of the stock is owned by corporate insiders.

About The Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy and battery energy storage 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, wholesale gas services, and gas pipeline investments operations.

Read More: Balance Sheet

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SO).

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

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