Maryland State Retirement & Pension System Buys 903 Shares of The Southern Company (NYSE:SO)

Maryland State Retirement & Pension System increased its position in The Southern Company (NYSE:SO) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,832 shares of the utilities provider’s stock after buying an additional 903 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Southern were worth $5,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Southern in the 4th quarter worth about $34,000. Valley National Advisers Inc. increased its position in shares of Southern by 63.9% during the 4th quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 205 shares during the last quarter. CNB Bank increased its holdings in Southern by 1,021.4% in the 3rd quarter. CNB Bank now owns 628 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 572 shares in the last quarter. Your Advocates Ltd. LLP purchased a new stake in Southern in the 3rd quarter worth approximately $42,000. Finally, Atticus Wealth Management LLC increased its holdings in Southern by 30.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 652 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 152 shares in the last quarter. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Price Performance

NYSE SO traded down $0.37 on Monday, reaching $75.48. 8,062,133 shares of the stock traded hands, compared to its average volume of 4,777,350. The firm’s fifty day simple moving average is $70.57 and its 200 day simple moving average is $69.74. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a market cap of $82.62 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 4.75 and a beta of 0.48. The Southern Company has a 12 month low of $61.56 and a 12 month high of $76.28.

Southern (NYSE:SO) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.13. Southern had a return on equity of 12.07% and a net margin of 16.74%. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.59 billion. During the same period last year, the company earned $0.79 earnings per share. Southern’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts predict that The Southern Company will post 3.99 EPS for the current fiscal year.

Southern Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be given a $0.72 dividend. This is an increase from Southern’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, May 17th. Southern’s dividend payout ratio (DPR) is currently 72.35%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SO shares. UBS Group downgraded Southern from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $76.00 in a research report on Thursday, April 4th. BMO Capital Markets restated an “outperform” rating and set a $76.00 price target (up previously from $72.00) on shares of Southern in a research note on Monday, April 1st. Bank of America raised their price target on Southern from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Southern in a report on Wednesday, February 21st. Finally, Mizuho increased their price target on Southern from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.71.

Insider Activity

In related news, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now directly owns 22,502 shares of the company’s stock, valued at $1,508,984.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Southern news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total transaction of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kimberly S. Greene sold 9,126 shares of Southern stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $75.04, for a total transaction of $684,815.04. Following the completion of the transaction, the chief executive officer now owns 121,504 shares of the company’s stock, valued at approximately $9,117,660.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,025 shares of company stock valued at $1,424,402. 0.18% of the stock is owned by insiders.

Southern Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy 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, gas distribution operations, and gas pipeline investments operations.