Parametric Portfolio Associates LLC Sells 522,592 Shares of Southern Company (The) (NYSE:SO)

Parametric Portfolio Associates LLC lowered its position in Southern Company (The) (NYSE:SO) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,698,997 shares of the utilities provider’s stock after selling 522,592 shares during the period. Parametric Portfolio Associates LLC owned about 0.17% of Southern Company (The) worth $84,576,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SO. Norges Bank purchased a new stake in Southern Company (The) during the fourth quarter worth approximately $387,991,000. Ameriprise Financial Inc. increased its stake in Southern Company (The) by 205.4% in the first quarter. Ameriprise Financial Inc. now owns 8,803,018 shares of the utilities provider’s stock worth $438,168,000 after buying an additional 5,920,212 shares during the period. Franklin Resources Inc. increased its stake in Southern Company (The) by 21.7% in the fourth quarter. Franklin Resources Inc. now owns 16,455,678 shares of the utilities provider’s stock worth $809,455,000 after buying an additional 2,934,616 shares during the period. Luminus Management LLC purchased a new stake in Southern Company (The) during the fourth quarter worth approximately $51,338,000. Finally, Canada Pension Plan Investment Board increased its stake in Southern Company (The) by 876.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,074,910 shares of the utilities provider’s stock worth $53,509,000 after buying an additional 964,800 shares during the period. Institutional investors and hedge funds own 53.89% of the company’s stock.

Shares of Southern Company (NYSE SO) traded down 0.65% during mid-day trading on Friday, hitting $47.51. The company had a trading volume of 4,263,378 shares. The firm has a market capitalization of $47.25 billion, a P/E ratio of 17.77 and a beta of 0.12. The firm has a 50-day moving average price of $48.74 and a 200 day moving average price of $49.48. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.80.

Southern Company (The) (NYSE:SO) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.08. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Southern Company (The) had a return on equity of 11.37% and a net margin of 12.38%. Southern Company (The)’s revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, equities research analysts forecast that Southern Company will post $2.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 21st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Thursday, August 17th. Southern Company (The)’s payout ratio is 85.29%.

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SO has been the subject of a number of analyst reports. Zacks Investment Research downgraded Southern Company (The) from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Deutsche Bank AG decreased their price target on Southern Company (The) from $52.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, April 11th. Royal Bank Of Canada decreased their price target on Southern Company (The) from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Wednesday, June 28th. Barclays PLC reissued a “buy” rating and issued a $55.00 price target on shares of Southern Company (The) in a report on Friday, May 5th. Finally, BidaskClub downgraded Southern Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.35.

In other Southern Company (The) news, insider Ann P. Daiss sold 5,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $51.28, for a total transaction of $256,400.00. Following the completion of the transaction, the insider now owns 7,394 shares of the company’s stock, valued at $379,164.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Lantrip sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. Following the transaction, the chief executive officer now directly owns 31,080 shares of the company’s stock, valued at approximately $1,600,620. The disclosure for this sale can be found here. Insiders have sold 145,549 shares of company stock valued at $7,395,190 in the last three months. 1.00% of the stock is currently owned by company insiders.

Southern Company (The) Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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

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