The Southern Company (NYSE:SO) Stake Lifted by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in shares of The Southern Company (NYSE:SO) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,289 shares of the utilities provider’s stock after purchasing an additional 221 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Southern were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SO. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Southern in the fourth quarter valued at $16,067,000. Summit Financial LLC bought a new stake in Southern in the first quarter worth about $1,288,000. Intech Investment Management LLC lifted its holdings in Southern by 382.0% in the 1st quarter. Intech Investment Management LLC now owns 41,790 shares of the utilities provider’s stock valued at $2,998,000 after acquiring an additional 33,120 shares during the last quarter. Nwam LLC boosted its position in shares of Southern by 8.8% during the 1st quarter. Nwam LLC now owns 11,605 shares of the utilities provider’s stock valued at $890,000 after purchasing an additional 937 shares in the last quarter. Finally, Angeles Investment Advisors LLC grew its stake in shares of Southern by 13.3% in the 4th quarter. Angeles Investment Advisors LLC now owns 5,202 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 612 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern

In other news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $88.99, for a total transaction of $211,796.20. Following the transaction, the executive vice president now owns 12,500 shares in the company, valued at approximately $1,112,375. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Southern news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the sale, the executive vice president now owns 12,500 shares of the company’s stock, valued at $1,112,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony L. Wilson sold 6,900 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $77.61, for a total value of $535,509.00. Following the completion of the transaction, the chief executive officer now directly owns 85,309 shares in the company, valued at $6,620,831.49. The disclosure for this sale can be found here. Insiders sold 21,280 shares of company stock worth $1,678,625 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Southern Stock Up 1.0 %

Shares of NYSE:SO traded up $0.89 during trading on Wednesday, reaching $87.69. 3,335,873 shares of the company traded hands, compared to its average volume of 4,456,184. The Southern Company has a 1-year low of $61.56 and a 1-year high of $89.68. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The firm has a market cap of $95.88 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 3.13 and a beta of 0.51. The firm has a fifty day simple moving average of $81.69 and a 200 day simple moving average of $75.58.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.19. Southern had a return on equity of 12.88% and a net margin of 17.67%. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts anticipate that The Southern Company will post 4.01 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 19th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, August 19th. Southern’s payout ratio is presently 74.42%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wolfe Research lowered shares of Southern from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Barclays boosted their target price on Southern from $66.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. increased their price target on Southern from $80.00 to $87.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, Argus boosted their price objective on Southern from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.64.

Southern Company 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.