Glenview Trust Co Sells 70,085 Shares of Southern Company (The) $SO

Glenview Trust Co cut its stake in shares of Southern Company (The) (NYSE:SO) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,005 shares of the utilities provider’s stock after selling 70,085 shares during the quarter. Glenview Trust Co’s holdings in Southern were worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SO. Cloud Capital Management LLC bought a new stake in Southern during the third quarter valued at approximately $25,000. Triumph Capital Management bought a new stake in shares of Southern in the 3rd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Southern in the 4th quarter worth approximately $31,000. Legacy Wealth Managment LLC ID bought a new stake in shares of Southern in the 4th quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of Southern in the 4th quarter worth approximately $33,000. 64.10% of the stock is currently owned by institutional investors.

Southern Stock Up 0.1%

Shares of NYSE SO opened at $94.67 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 1.68. Southern Company has a 52 week low of $83.80 and a 52 week high of $100.83. The firm’s fifty day moving average is $95.00 and its 200 day moving average is $91.79. The company has a market cap of $106.72 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.86 and a beta of 0.36.

Southern (NYSE:SO) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. Southern had a net margin of 14.46% and a return on equity of 12.64%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Southern Company will post 4.57 earnings per share for the current year.

Southern Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be paid a $0.76 dividend. The ex-dividend date of this dividend 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 3.2%. Southern’s payout ratio is presently 77.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Seaport Research Partners lowered shares of Southern from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Citigroup restated a “buy” rating on shares of Southern in a report on Friday, April 10th. Barclays boosted their price objective on shares of Southern from $88.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings upgraded shares of Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $102.00 price objective on shares of Southern in a report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $99.56.

Insider Buying and Selling at Southern

In related news, CEO Kimberly S. Greene sold 25,000 shares of Southern stock in a transaction on Monday, March 30th. The shares were sold at an average price of $96.67, for a total value of $2,416,750.00. Following the transaction, the chief executive officer directly owned 103,602 shares of the company’s stock, valued at $10,015,205.34. The trade was a 19.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Cummiskey sold 6,669 shares of Southern stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $96.55, for a total transaction of $643,891.95. Following the completion of the transaction, the executive vice president directly owned 30,800 shares in the company, 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. 0.16% of the stock is owned by insiders.

About Southern

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.