SG Americas Securities LLC Sells 136,616 Shares of Southern Company (The) (SO)
SG Americas Securities LLC lowered its stake in shares of Southern Company (The) (NYSE:SO) by 44.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 170,495 shares of the utilities provider’s stock after selling 136,616 shares during the period. SG Americas Securities LLC’s holdings in Southern Company (The) were worth $8,163,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC purchased a new position in shares of Southern Company (The) in the second quarter valued at $100,000. Symmetry Partners LLC bought a new stake in shares of Southern Company (The) during the 1st quarter valued at $103,000. Stuart Chaussee & Associates Inc. raised its stake in shares of Southern Company (The) by 358.8% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 1,740 shares during the period. IHT Wealth Management LLC raised its stake in shares of Southern Company (The) by 15.3% during the 1st quarter. IHT Wealth Management LLC now owns 2,281 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 302 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in shares of Southern Company (The) by 115.7% during the 1st quarter. AlphaMark Advisors LLC now owns 2,349 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 1,260 shares during the period. Hedge funds and other institutional investors own 53.28% of the company’s stock.
In related news, EVP Christopher C. Womack sold 75,144 shares of Southern Company (The) stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the sale, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.74% of the company’s stock.
SO has been the topic of a number of recent research reports. J P Morgan Chase & Co assumed coverage on Southern Company (The) in a report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 price objective on the stock. Credit Suisse Group raised Southern Company (The) from an “underperform” rating to a “neutral” rating in a report on Thursday, August 3rd. Royal Bank Of Canada raised Southern Company (The) from a “sector perform” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Friday, September 29th. Citigroup Inc. upped their price target on Southern Company (The) from $42.00 to $43.00 and gave the company a “sell” rating in a research report on Wednesday, July 26th. Finally, Morgan Stanley set a $50.00 price target on Southern Company (The) and gave the company a “sell” rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.37.
Shares of Southern Company (NYSE:SO) opened at 48.79 on Wednesday. Southern Company has a 12 month low of $46.20 and a 12 month high of $52.23. The company has a market capitalization of $48.76 billion, a price-to-earnings ratio of 80.25 and a beta of 0.13. The firm’s 50-day moving average is $49.00 and its 200 day moving average is $49.37.
Southern Company (The) (NYSE:SO) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Equities analysts expect that Southern Company will post $2.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Thursday, August 17th. Southern Company (The)’s dividend payout ratio is currently 346.27%.
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Southern Company (The) Company Profile
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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