SVB Wealth LLC Increases Stake in The Southern Company (NYSE:SO)

SVB Wealth LLC grew its holdings in The Southern Company (NYSE:SO) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,711 shares of the utilities provider’s stock after buying an additional 1,424 shares during the period. SVB Wealth LLC’s holdings in Southern were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Southern in the fourth quarter valued at approximately $34,000. BKM Wealth Management LLC purchased a new position in shares of Southern during the 4th quarter worth $34,000. Valley National Advisers Inc. grew its holdings in shares of Southern by 63.9% in the fourth quarter. Valley National Advisers Inc. now owns 526 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 205 shares during the period. RVW Wealth LLC acquired a new stake in Southern during the third quarter worth about $35,000. Finally, Dark Forest Capital Management LP purchased a new position in Southern during the first quarter worth about $43,000. 64.10% of the stock is owned by hedge funds and other institutional investors.

Southern Trading Up 1.1 %

Shares of SO stock opened at $70.57 on Friday. The Southern Company has a fifty-two week low of $61.56 and a fifty-two week high of $75.80. The company has a 50 day moving average price of $68.92 and a 200 day moving average price of $68.99. The stock has a market capitalization of $77.25 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.56 and a current ratio of 0.77.

Southern (NYSE:SO) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.90 billion. Southern had a net margin of 15.79% and a return on equity of 11.40%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities research analysts predict that The Southern Company will post 4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christopher Cummiskey sold 899 shares of Southern stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the transaction, the executive vice president now owns 22,502 shares in the company, valued at approximately $1,508,984.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Christopher Cummiskey sold 899 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $68.92, for a total transaction of $344,600.00. Following the transaction, the chief executive officer now owns 126,528 shares of the company’s stock, valued at approximately $8,720,309.76. The disclosure for this sale can be found here. Insiders have sold a total of 10,899 shares of company stock worth $739,587 in the last quarter. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SO. Wells Fargo & Company cut their price target on shares of Southern from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 target price on shares of Southern in a research note on Wednesday, February 21st. Mizuho upped their price target on Southern from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Barclays raised their price objective on Southern from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $76.00 target price (up previously from $72.00) on shares of Southern in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.07.

About Southern

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.