HB Wealth Management LLC Trims Holdings in Southern Company (The) $SO

HB Wealth Management LLC decreased its position in shares of Southern Company (The) (NYSE:SO) by 8.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 192,433 shares of the utilities provider’s stock after selling 18,087 shares during the quarter. HB Wealth Management LLC’s holdings in Southern were worth $16,780,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of Southern in the third quarter worth $25,000. Triumph Capital Management purchased a new position in shares of Southern during the 3rd quarter worth about $29,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Southern during the 3rd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Southern during the third quarter valued at $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Southern during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SO shares. Barclays upped their target price on Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Seaport Research Partners cut shares of Southern from a “buy” rating to a “neutral” rating in a research report on Monday. Truist Financial assumed coverage on shares of Southern in a research report on Tuesday. They set a “hold” rating and a $103.00 target price for the company. BMO Capital Markets restated an “outperform” rating on shares of Southern in a research note on Friday, February 20th. Finally, Jefferies Financial Group restated a “hold” rating and set a $102.00 target price on shares of Southern in a research note on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $99.08.

Insider Activity

In other news, CEO Kimberly S. Greene sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $96.67, for a total value of $2,416,750.00. Following the completion of the transaction, the chief executive officer directly owned 103,602 shares in the company, valued at $10,015,205.34. This trade represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christopher Cummiskey sold 6,669 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $96.55, for a total value of $643,891.95. Following the completion of the transaction, the executive vice president owned 30,800 shares of the company’s stock, valued at approximately $2,973,740. The trade was a 17.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

Southern Stock Performance

Shares of Southern stock opened at $91.81 on Thursday. The firm has a market capitalization of $103.60 billion, a P/E ratio of 23.36, a PEG ratio of 2.77 and a beta of 0.41. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 1.69. Southern Company has a 52 week low of $83.09 and a 52 week high of $100.83. The company has a 50 day moving average price of $95.78 and a 200 day moving average price of $92.18.

Southern (NYSE:SO) last announced its quarterly earnings data on Wednesday, February 18th. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The company had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Southern had a net margin of 14.69% and a return on equity of 12.52%. Southern’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. Sell-side analysts expect that Southern Company will post 4.58 EPS for the current year.

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, May 18th will be paid a $0.76 dividend. The ex-dividend date is Monday, May 18th. This is a positive change from Southern’s previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a dividend yield of 3.3%. Southern’s dividend payout ratio (DPR) is 75.32%.

Southern Profile

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.