Retirement Systems of Alabama Has $24.50 Million Position in The Southern Company (NYSE:SO)


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Retirement Systems of Alabama cut its position in The Southern Company (NYSE:SO) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 394,103 shares of the utilities provider’s stock after selling 30,191 shares during the period. Retirement Systems of Alabama’s holdings in The Southern were worth $24,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SO. Wealth Alliance raised its holdings in The Southern by 8.4% in the third quarter. Wealth Alliance now owns 11,677 shares of the utilities provider’s stock worth $633,000 after purchasing an additional 907 shares during the period. IHT Wealth Management LLC raised its holdings in The Southern by 45.9% in the third quarter. IHT Wealth Management LLC now owns 16,037 shares of the utilities provider’s stock worth $870,000 after purchasing an additional 5,048 shares during the period. Chiron Capital Management LLC acquired a new stake in shares of The Southern during the third quarter worth $111,000. Jeppson Wealth Management LLC acquired a new stake in shares of The Southern during the third quarter worth $149,000. Finally, Paces Ferry Wealth Advisors LLC acquired a new stake in shares of The Southern during the third quarter worth $455,000. Institutional investors own 57.62% of the company’s stock.

In related news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $62.97, for a total transaction of $157,425.00. Following the completion of the sale, the chief executive officer now directly owns 96,651 shares of the company’s stock, valued at $6,086,113.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann P. Daiss sold 5,549 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $62.75, for a total value of $348,199.75. Following the sale, the insider now directly owns 18,666 shares of the company’s stock, valued at $1,171,291.50. The disclosure for this sale can be found here. Insiders have sold 13,049 shares of company stock valued at $806,650 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on SO shares. KeyCorp decreased their target price on shares of The Southern from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, January 12th. Evercore ISI cut shares of The Southern from an “in-line” rating to an “underperform” rating and set a $61.00 price target on the stock. in a report on Thursday, January 21st. Credit Suisse Group boosted their price objective on The Southern from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, April 14th. Morgan Stanley increased their target price on The Southern from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Thursday, March 25th. Finally, Zacks Investment Research upgraded The Southern from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Thursday, January 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The Southern has an average rating of “Hold” and an average price target of $65.00.

Shares of The Southern stock opened at $64.92 on Tuesday. The company has a market cap of $68.79 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39. The Southern Company has a 52 week low of $50.40 and a 52 week high of $65.26. The business has a 50 day moving average price of $61.09 and a 200-day moving average price of $60.31. The company has a quick ratio of 0.73, a current ratio of 0.90 and a debt-to-equity ratio of 1.40.

The Southern (NYSE:SO) last issued its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.07 billion. The Southern had a return on equity of 10.08% and a net margin of 15.80%. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts anticipate that The Southern Company will post 3.19 EPS for the current year.

The Southern 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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