The Southern Company (NYSE:SO) Shares Purchased by Norinchukin Bank The

Norinchukin Bank The grew its holdings in The Southern Company (NYSE:SO) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,905 shares of the utilities provider’s stock after acquiring an additional 1,458 shares during the period. Norinchukin Bank The’s holdings in The Southern were worth $5,464,000 as of its most recent filing with the Securities & Exchange Commission.

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

Shares of SO opened at $63.88 on Friday. The stock has a 50 day simple moving average of $64.45. The firm has a market cap of $67.69 billion, a PE ratio of 19.96, a P/E/G ratio of 3.93 and a beta of 0.44. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.82 and a quick ratio of 0.64. The Southern Company has a 12-month low of $50.40 and a 12-month high of $66.93.

The Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, April 29th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.44 billion. The Southern had a net margin of 15.99% and a return on equity of 11.28%. On average, equities research analysts forecast that The Southern Company will post 3.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 7th. Stockholders of record on Monday, May 17th were given a $0.66 dividend. This is an increase from The Southern’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, May 14th. The Southern’s dividend payout ratio (DPR) is 81.23%.

SO has been the subject of a number of recent analyst reports. KeyCorp raised their price target on shares of The Southern from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. Wells Fargo & Company raised their price target on shares of The Southern from $71.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Mizuho lowered their price target on shares of The Southern from $61.00 to $59.00 and set an “underperform” rating for the company in a report on Wednesday. Barclays increased their price objective on shares of The Southern from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, May 25th. Finally, Morgan Stanley reduced their price objective on shares of The Southern from $62.00 to $61.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 18th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The Southern has a consensus rating of “Hold” and a consensus target price of $67.08.

In other The Southern news, insider Ann P. Daiss sold 4,425 shares of The Southern stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $66.05, for a total value of $292,271.25. Following the completion of the sale, the insider now directly owns 14,501 shares in the company, valued at $957,791.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen E. Kuczynski sold 2,500 shares of The Southern stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $66.45, for a total transaction of $166,125.00. Following the completion of the sale, the chief executive officer now owns 94,151 shares of the company’s stock, valued at $6,256,333.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,474 shares of company stock worth $2,778,346. 0.43% of the stock is currently owned by insiders.

The Southern Company Profile

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.

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

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