Principal Financial Group Inc. Sells 6,533 Shares of Southern Company (The) $SO

Principal Financial Group Inc. trimmed its position in Southern Company (The) (NYSE:SO) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,418,722 shares of the utilities provider’s stock after selling 6,533 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Southern worth $134,452,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in Southern during the 3rd quarter worth about $25,000. Ameriflex Group Inc. lifted its position in shares of Southern by 275.0% in the 2nd quarter. Ameriflex Group Inc. now owns 300 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 220 shares during the period. Advantage Trust Co lifted its position in shares of Southern by 1,428.6% in the 2nd quarter. Advantage Trust Co now owns 321 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Southern during the third quarter valued at approximately $29,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Southern during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Trading Down 1.2%

Southern stock opened at $88.20 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.59 and a current ratio of 0.75. The stock has a market cap of $97.12 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. The stock has a 50-day moving average of $87.50 and a two-hundred day moving average of $91.57. Southern Company has a one year low of $82.78 and a one year high of $100.83.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a $0.74 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.96 dividend on an annualized basis and a yield of 3.4%. Southern’s dividend payout ratio (DPR) is 73.27%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Southern in a report on Wednesday, January 21st. Jefferies Financial Group decreased their price objective on Southern from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, December 15th. Morgan Stanley reaffirmed an “underweight” rating and set a $85.00 price objective on shares of Southern in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Southern from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, The Goldman Sachs Group cut shares of Southern from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $94.91.

About Southern

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.