Drive Wealth Management LLC Has $257,000 Stock Holdings in The Southern Company (NYSE:SO)

Drive Wealth Management LLC grew its holdings in The Southern Company (NYSE:SOFree Report) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,662 shares of the utilities provider’s stock after buying an additional 405 shares during the quarter. Drive Wealth Management LLC’s holdings in Southern were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Southern by 0.4% in the third quarter. Vanguard Group Inc. now owns 99,572,665 shares of the utilities provider’s stock valued at $6,444,343,000 after buying an additional 352,023 shares in the last quarter. FMR LLC boosted its holdings in Southern by 5.0% in the third quarter. FMR LLC now owns 38,906,760 shares of the utilities provider’s stock valued at $2,518,045,000 after acquiring an additional 1,838,857 shares during the last quarter. Northern Trust Corp boosted its holdings in Southern by 1.6% in the third quarter. Northern Trust Corp now owns 10,737,843 shares of the utilities provider’s stock valued at $694,953,000 after acquiring an additional 163,986 shares during the last quarter. Morgan Stanley boosted its holdings in Southern by 3.7% in the third quarter. Morgan Stanley now owns 9,811,307 shares of the utilities provider’s stock valued at $634,988,000 after acquiring an additional 349,122 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Southern by 38.5% in the third quarter. Ameriprise Financial Inc. now owns 7,547,188 shares of the utilities provider’s stock valued at $488,461,000 after acquiring an additional 2,096,988 shares during the last quarter. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SO. BMO Capital Markets reiterated an “outperform” rating and issued a $76.00 price target (up previously from $72.00) on shares of Southern in a report on Monday. Wells Fargo & Company decreased their price target on Southern from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Mizuho raised their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. Barclays reduced their target price on Southern from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Finally, Citigroup started coverage on Southern in a report on Friday, December 8th. They set a “buy” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.00.

View Our Latest Stock Analysis on SO

Insider Transactions at Southern

In other news, CEO Stephen E. Kuczynski sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares of the company’s stock, valued at $7,291,435.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Stephen E. Kuczynski sold 5,000 shares of Southern stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total value of $359,950.00. Following the sale, the chief executive officer now owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the sale, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,998 shares of company stock valued at $1,806,063 over the last 90 days. 0.37% of the stock is owned by company insiders.

Southern Trading Up 0.4 %

NYSE SO opened at $71.35 on Wednesday. The firm has a market cap of $77.84 billion, a P/E ratio of 19.66, a P/E/G ratio of 4.44 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.56. The stock’s 50-day moving average is $68.59 and its 200-day moving average is $68.89. The Southern Company has a one year low of $61.56 and a one year high of $75.80.

Southern (NYSE:SOGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.90 billion. Southern had a return on equity of 11.40% and a net margin of 15.79%. Southern’s revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Sell-side analysts anticipate that The Southern Company will post 4 earnings per share for the current fiscal year.

Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Friday, February 16th. Southern’s dividend payout ratio is currently 77.14%.

Southern Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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