Public Sector Pension Investment Board Cuts Holdings in The Southern Company (NYSE:SO)

Public Sector Pension Investment Board lessened its holdings in The Southern Company (NYSE:SOGet Rating) by 31.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,203 shares of the utilities provider’s stock after selling 46,505 shares during the period. Public Sector Pension Investment Board’s holdings in Southern were worth $7,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SO. IndexIQ Advisors LLC purchased a new position in shares of Southern during the 1st quarter valued at approximately $25,000. Johnson Midwest Financial LLC purchased a new stake in shares of Southern during the second quarter worth about $25,000. Crewe Advisors LLC raised its position in shares of Southern by 93.6% during the 2nd quarter. Crewe Advisors LLC now owns 484 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 234 shares during the last quarter. CNB Bank lifted its stake in Southern by 186.2% in the 2nd quarter. CNB Bank now owns 498 shares of the utilities provider’s stock valued at $35,000 after buying an additional 324 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Southern in the 1st quarter worth about $54,000. Institutional investors and hedge funds own 62.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SO. Wells Fargo & Company decreased their target price on Southern from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 19th. The Goldman Sachs Group upped their target price on shares of Southern from $53.00 to $61.00 and gave the stock a “sell” rating in a report on Monday, August 22nd. Bank Of America (Bofa) lowered shares of Southern to an “underperform” rating in a research report on Monday, October 24th. Morgan Stanley raised their target price on shares of Southern from $55.00 to $59.00 and gave the stock an “underweight” rating in a research note on Friday, November 11th. Finally, KeyCorp upgraded Southern from a “sector weight” rating to an “overweight” rating and set a $70.00 price target for the company in a research report on Thursday, October 20th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.42.

Insiders Place Their Bets

In related news, EVP Martin Bernard Davis sold 3,050 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $65.80, for a total value of $200,690.00. Following the transaction, the executive vice president now owns 39,916 shares of the company’s stock, valued at $2,626,472.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Southern news, EVP Martin Bernard Davis sold 3,050 shares of Southern stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $65.80, for a total value of $200,690.00. Following the sale, the executive vice president now owns 39,916 shares of the company’s stock, valued at approximately $2,626,472.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $64.52, for a total value of $935,540.00. Following the completion of the transaction, the chief executive officer now directly owns 115,284 shares of the company’s stock, valued at $7,438,123.68. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock worth $2,288,545 over the last three months. Company insiders own 0.37% of the company’s stock.

Southern Stock Up 0.6 %

Southern stock opened at $66.36 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.64 and a current ratio of 0.81. The firm has a 50 day moving average price of $67.65 and a 200 day moving average price of $72.04. The Southern Company has a fifty-two week low of $60.71 and a fifty-two week high of $80.57. The company has a market capitalization of $72.24 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 4.58 and a beta of 0.51.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, November 18th. Southern’s payout ratio is 86.08%.

Southern Company Profile

(Get Rating)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services segments. 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, wholesale gas services, and gas pipeline investments operations.

Further Reading

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOGet Rating).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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