United Services Automobile Association Has $32.71 Million Position in Southern Company (The) (NYSE:SO)

United Services Automobile Association cut its stake in shares of Southern Company (The) (NYSE:SO) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 657,128 shares of the utilities provider’s stock after selling 13,380 shares during the period. United Services Automobile Association’s holdings in Southern Company (The) were worth $32,712,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Gradient Investments LLC raised its position in Southern Company (The) by 28.0% in the first quarter. Gradient Investments LLC now owns 5,378 shares of the utilities provider’s stock valued at $268,000 after buying an additional 1,178 shares during the last quarter. Bank of Montreal Can raised its position in Southern Company (The) by 0.8% in the first quarter. Bank of Montreal Can now owns 1,598,607 shares of the utilities provider’s stock valued at $79,579,000 after buying an additional 12,049 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Southern Company (The) by 0.3% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 37,566 shares of the utilities provider’s stock valued at $1,870,000 after buying an additional 101 shares during the last quarter. Univest Corp of Pennsylvania raised its position in Southern Company (The) by 4.6% in the first quarter. Univest Corp of Pennsylvania now owns 9,281 shares of the utilities provider’s stock valued at $462,000 after buying an additional 404 shares during the last quarter. Finally, National Pension Service raised its position in Southern Company (The) by 11.4% in the first quarter. National Pension Service now owns 701,557 shares of the utilities provider’s stock valued at $34,846,000 after buying an additional 71,931 shares during the last quarter. 53.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Southern Company (NYSE:SO) opened at 48.8299 on Monday. The company has a 50-day moving average price of $48.60 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 $53.73. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 80.3123 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Southern Company (The) had a return on equity of 11.30% and a net margin of 2.93%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts forecast that Southern Company will post $2.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 21st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio (DPR) is currently 346.27%.

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Several equities analysts have weighed in on the company. Zacks Investment Research lowered Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Morgan Stanley cut their target price on Southern Company (The) from $53.00 to $51.00 and set an “underweight” rating on the stock in a research note on Friday, June 23rd. Barclays PLC reaffirmed an “overweight” rating and set a $56.00 price target (up previously from $53.00) on shares of Southern Company (The) in a research report on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Southern Company (The) in a research report on Monday, May 15th. Finally, BidaskClub lowered Southern Company (The) from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $51.54.

In related news, EVP Christopher C. Womack sold 75,144 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.29, for a total transaction of $3,703,847.76. Following the transaction, the executive vice president now directly owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ann P. Daiss sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $51.28, for a total value of $256,400.00. Following the transaction, the insider now directly owns 7,394 shares in the company, valued at $379,164.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,084 shares of company stock worth $7,665,158. 0.74% of the stock is owned by company insiders.

About Southern Company (The)

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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