Northwest Bancshares Inc. Has $706,000 Holdings in Southern Co (NYSE:SO)

Northwest Bancshares Inc. trimmed its position in Southern Co (NYSE:SO) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,435 shares of the utilities provider’s stock after selling 300 shares during the quarter. Northwest Bancshares Inc.’s holdings in Southern were worth $706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pettyjohn Wood & White Inc. grew its position in Southern by 0.3% in the second quarter. Pettyjohn Wood & White Inc. now owns 60,890 shares of the utilities provider’s stock valued at $3,366,000 after acquiring an additional 175 shares during the period. Confluence Wealth Management LLC boosted its holdings in Southern by 2.2% in the second quarter. Confluence Wealth Management LLC now owns 8,047 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 175 shares during the last quarter. 6 Meridian boosted its holdings in Southern by 1.8% in the second quarter. 6 Meridian now owns 10,278 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 181 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Southern by 0.8% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,452 shares of the utilities provider’s stock valued at $1,296,000 after acquiring an additional 186 shares during the last quarter. Finally, St. Johns Investment Management Company LLC boosted its holdings in Southern by 1.9% in the second quarter. St. Johns Investment Management Company LLC now owns 10,573 shares of the utilities provider’s stock valued at $584,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 58.36% of the company’s stock.

SO has been the topic of several recent research reports. Bank of America raised their price target on Southern from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays reiterated a “hold” rating and issued a $57.00 price target on shares of Southern in a report on Wednesday, June 19th. Morgan Stanley decreased their price target on Southern from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Friday, August 16th. Mizuho raised their price target on Southern from $48.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, ValuEngine cut Southern from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.70.



Shares of NYSE SO traded up $0.59 during mid-day trading on Wednesday, reaching $61.95. 206,997 shares of the company’s stock were exchanged, compared to its average volume of 4,652,379. The firm has a market capitalization of $64.55 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 4.53 and a beta of 0.16. The company has a current ratio of 0.76, a quick ratio of 0.59 and a debt-to-equity ratio of 1.33. The business has a fifty day simple moving average of $59.98 and a 200 day simple moving average of $55.79. Southern Co has a twelve month low of $42.50 and a twelve month high of $62.36.

Southern (NYSE:SO) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.12 billion. Southern had a return on equity of 10.04% and a net margin of 20.18%. Southern’s revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. Equities research analysts predict that Southern Co will post 3.04 earnings per share for the current fiscal year.

In other news, CEO Stephen E. Kuczynski sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.51, for a total transaction of $115,020.00. Following the sale, the chief executive officer now owns 71,772 shares of the company’s stock, valued at $4,127,607.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 123,533 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $61.87, for a total value of $7,642,986.71. Following the sale, the chief executive officer now directly owns 191,305 shares in the company, valued at approximately $11,836,040.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,533 shares of company stock worth $12,386,567. 0.88% of the stock is currently owned by insiders.

Southern Company 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 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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Institutional Ownership by Quarter for Southern (NYSE:SO)

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