Signal Advisors Wealth LLC Boosts Holdings in The Southern Company (NYSE:SO)

Signal Advisors Wealth LLC increased its holdings in The Southern Company (NYSE:SOFree Report) by 21.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,018 shares of the utilities provider’s stock after buying an additional 714 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Southern were worth $288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stableford Capital II LLC raised its stake in Southern by 5.8% during the 1st quarter. Stableford Capital II LLC now owns 13,946 shares of the utilities provider’s stock worth $1,000,000 after acquiring an additional 762 shares during the period. Montecito Bank & Trust raised its stake in Southern by 49.2% during the 1st quarter. Montecito Bank & Trust now owns 8,633 shares of the utilities provider’s stock worth $619,000 after acquiring an additional 2,846 shares during the period. Welch Group LLC raised its stake in Southern by 1.4% during the 1st quarter. Welch Group LLC now owns 789,070 shares of the utilities provider’s stock worth $56,608,000 after acquiring an additional 11,248 shares during the period. Woodstock Corp raised its stake in Southern by 95.0% during the 1st quarter. Woodstock Corp now owns 36,193 shares of the utilities provider’s stock worth $2,596,000 after acquiring an additional 17,633 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Southern by 1.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 87,097 shares of the utilities provider’s stock worth $6,248,000 after acquiring an additional 915 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Price Performance

Shares of SO stock traded up $0.94 on Thursday, reaching $78.88. The company’s stock had a trading volume of 3,995,691 shares, compared to its average volume of 4,673,766. The company has a current ratio of 0.92, a quick ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock’s fifty day simple moving average is $76.54 and its 200-day simple moving average is $71.98. The company has a market capitalization of $86.25 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 2.81 and a beta of 0.51. The Southern Company has a 1 year low of $61.56 and a 1 year high of $80.84.

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

Southern Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.65%. This is a positive change from Southern’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, May 17th. Southern’s payout ratio is presently 74.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on SO. UBS Group cut shares of Southern from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $76.00 in a research note on Thursday, April 4th. Bank of America lifted their price objective on shares of Southern from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price objective on shares of Southern in a research report on Wednesday, February 21st. BMO Capital Markets reiterated an “outperform” rating and set a $76.00 price objective (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. Finally, Morgan Stanley lifted their price objective on shares of Southern from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.36.

Get Our Latest Report on SO

Insiders Place Their Bets

In other news, CEO Kimberly S. Greene sold 9,126 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 121,504 shares of the company’s stock, valued at $9,117,660.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

About Southern

(Free Report)

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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