Southern Co (SO) Position Trimmed by Sompo Japan Nipponkoa Asset Management CO. LTD.

Sompo Japan Nipponkoa Asset Management CO. LTD. decreased its holdings in shares of Southern Co (NYSE:SO) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,540 shares of the utilities provider’s stock after selling 37,700 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Southern were worth $2,552,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SO. Kaizen Advisory LLC lifted its position in shares of Southern by 133.8% in the 2nd quarter. Kaizen Advisory LLC now owns 2,284 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 1,307 shares during the period. Destination Wealth Management lifted its position in shares of Southern by 359.3% in the 2nd quarter. Destination Wealth Management now owns 2,315 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 1,811 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Southern in the 2nd quarter worth approximately $119,000. Horan Capital Advisors LLC. bought a new stake in shares of Southern in the 2nd quarter worth approximately $121,000. Finally, Sound Income Strategies LLC lifted its position in shares of Southern by 83.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,855 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,299 shares during the period. Hedge funds and other institutional investors own 57.42% of the company’s stock.

In related news, EVP Christopher C. Womack sold 16,371 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $47.40, for a total transaction of $775,985.40. Following the completion of the sale, the executive vice president now directly owns 10,165 shares of the company’s stock, valued at approximately $481,821. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

A number of analysts have commented on the company. SunTrust Banks reiterated a “hold” rating and issued a $48.00 price objective on shares of Southern in a research report on Thursday. Credit Suisse Group downgraded Southern from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $46.00 to $43.00 in a research report on Thursday, August 9th. Bank of America reduced their price objective on Southern from $47.00 to $46.00 and set an “underperform” rating for the company in a research report on Wednesday, August 22nd. Guggenheim downgraded Southern from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $50.00 to $47.00 in a research report on Wednesday, August 8th. Finally, Scotiabank reiterated a “hold” rating and issued a $44.00 price objective on shares of Southern in a research report on Thursday, August 9th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $45.96.

Southern stock opened at $46.40 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $46.32 billion, a P/E ratio of 15.46, a P/E/G ratio of 3.37 and a beta of -0.09. Southern Co has a one year low of $42.38 and a one year high of $52.65.

Southern (NYSE:SO) last posted its earnings results on Wednesday, November 7th. The utilities provider reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.07. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.68 billion. Southern had a return on equity of 13.06% and a net margin of 9.96%. Southern’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. On average, equities research analysts forecast that Southern Co will post 3.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Monday, November 19th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $2.40 annualized dividend and a dividend yield of 5.17%. Southern’s dividend payout ratio (DPR) is presently 79.47%.

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Southern Company Profile

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee, and Maryland, as well as provides gas marketing services, wholesale gas services, and gas midstream operations.

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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