Raymond James Financial Services Advisors Inc. Buys 47,638 Shares of Southern Company (The) (SO)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Southern Company (The) (NYSE:SO) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 443,091 shares of the utilities provider’s stock after buying an additional 47,638 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Southern Company (The) were worth $21,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SO. BlackRock Inc. grew its position in shares of Southern Company (The) by 2,961.9% during the 1st quarter. BlackRock Inc. now owns 62,067,822 shares of the utilities provider’s stock valued at $3,089,736,000 after acquiring an additional 60,040,696 shares during the period. Janus Henderson Group PLC grew its position in shares of Southern Company (The) by 3,580.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,673,498 shares of the utilities provider’s stock valued at $223,766,000 after acquiring an additional 4,546,503 shares during the period. Capital Research Global Investors grew its position in shares of Southern Company (The) by 25.3% during the 2nd quarter. Capital Research Global Investors now owns 14,940,226 shares of the utilities provider’s stock valued at $715,338,000 after acquiring an additional 3,015,226 shares during the period. Vanguard Group Inc. grew its position in shares of Southern Company (The) by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 68,758,138 shares of the utilities provider’s stock valued at $3,422,780,000 after acquiring an additional 2,688,854 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Southern Company (The) by 3.6% during the 2nd quarter. Franklin Resources Inc. now owns 22,379,839 shares of the utilities provider’s stock valued at $1,071,547,000 after acquiring an additional 770,413 shares during the period. Institutional investors and hedge funds own 52.88% of the company’s stock.

In other Southern Company (The) news, insider Ann P. Daiss sold 5,080 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total value of $270,662.40. Following the transaction, the insider now directly owns 7,474 shares of the company’s stock, valued at approximately $398,214.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Y. Kerr II sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $52.16, for a total transaction of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares in the company, valued at $1,356,160. The disclosure for this sale can be found here. Insiders sold a total of 213,813 shares of company stock worth $11,029,988 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Southern Company (SO) opened at $52.31 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. Southern Company has a 12 month low of $46.20 and a 12 month high of $53.51. The firm has a market cap of $52,008.00, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 4.68 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period last year, the company posted $1.27 EPS. The business’s revenue was down 1.0% on a year-over-year basis. sell-side analysts predict that Southern Company will post 2.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, November 17th. Southern Company (The)’s dividend payout ratio (DPR) is 414.29%.

A number of equities research analysts have recently commented on the company. Credit Suisse Group upgraded Southern Company (The) from an “underperform” rating to a “neutral” rating in a research report on Thursday, August 3rd. BidaskClub cut Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of Southern Company (The) in a research report on Wednesday, July 19th. Citigroup Inc. raised their target price on Southern Company (The) from $42.00 to $43.00 and gave the company a “sell” rating in a research report on Wednesday, July 26th. Finally, J P Morgan Chase & Co assumed coverage on Southern Company (The) in a research report on Tuesday, August 8th. They set an “overweight” rating and a $16.78 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $49.72.

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Southern Company (The) 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.

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

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