Insider Selling: Southern Co (NYSE:SO) EVP Sells 100,000 Shares of Stock

Southern Co (NYSE:SO) EVP James Y. Kerr II sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $54.40, for a total transaction of $5,440,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,655 shares in the company, valued at approximately $7,760,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE:SO traded up $0.07 during trading hours on Tuesday, hitting $54.55. The stock had a trading volume of 2,972,702 shares, compared to its average volume of 4,700,279. Southern Co has a 1-year low of $42.50 and a 1-year high of $55.95. The firm has a market capitalization of $56.80 billion, a P/E ratio of 17.77, a PEG ratio of 4.01 and a beta of 0.19. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.37.

Southern (NYSE:SO) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Southern had a net margin of 15.03% and a return on equity of 10.37%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business earned $0.88 earnings per share. Southern’s revenue was down 15.1% compared to the same quarter last year. Analysts predict that Southern Co will post 3.03 EPS for the current year.



The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were paid a $0.62 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.48 annualized dividend and a dividend yield of 4.55%. This is a positive change from Southern’s previous quarterly dividend of $0.60. Southern’s dividend payout ratio (DPR) is presently 80.78%.

Several large investors have recently made changes to their positions in the business. Tompkins Financial Corp acquired a new position in shares of Southern during the first quarter valued at approximately $28,000. Lee Financial Co increased its stake in shares of Southern by 144.4% during the first quarter. Lee Financial Co now owns 550 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 325 shares during the period. Sontag Advisory LLC acquired a new position in shares of Southern during the fourth quarter valued at approximately $25,000. Golden State Wealth Management LLC acquired a new position in shares of Southern during the first quarter valued at approximately $30,000. Finally, Gemmer Asset Management LLC increased its stake in shares of Southern by 58.0% during the first quarter. Gemmer Asset Management LLC now owns 681 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 250 shares during the period. Institutional investors own 56.67% of the company’s stock.

A number of equities analysts have issued reports on SO shares. Zacks Investment Research raised shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, May 13th. ValuEngine raised shares of Southern from a “hold” rating to a “buy” rating in a report on Friday, May 10th. SunTrust Banks reissued a “hold” rating and issued a $52.00 target price on shares of Southern in a report on Monday, February 25th. Evercore ISI raised shares of Southern from an “in-line” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, KeyCorp started coverage on shares of Southern in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.23.

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About Southern

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 facilities 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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