First Citizens Bank & Trust Co. cut its stake in shares of Southern Co. (NYSE:SO) by 14.9% during the second quarter, Holdings Channel reports. The institutional investor owned 22,052 shares of the company’s stock after selling 3,863 shares during the period. First Citizens Bank & Trust Co.’s holdings in Southern were worth $1,183,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SO. Zions Bancorporation increased its position in Southern by 1.3% in the first quarter. Zions Bancorporation now owns 2,559 shares of the company’s stock valued at $132,000 after buying an additional 32 shares in the last quarter. Barnett & Company Inc. bought a new position in Southern during the first quarter valued at about $155,000. First New York Securities LLC NY bought a new position in Southern during the second quarter valued at about $166,000. Cribstone Capital Management LLC bought a new position in Southern during the second quarter valued at about $184,000. Finally, Montrusco Bolton Investments Inc. increased its position in Southern by 0.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 3,880 shares of the company’s stock valued at $208,000 after buying an additional 20 shares in the last quarter. Institutional investors own 48.64% of the company’s stock.
Shares of Southern Co. (NYSE:SO) traded up 1.03% on Wednesday, reaching $49.92. 2,787,310 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $51.53 and its 200-day moving average price is $51.38. Southern Co. has a 1-year low of $43.38 and a 1-year high of $54.64. The company has a market capitalization of $47.00 billion, a P/E ratio of 19.82 and a beta of 0.08.
Southern (NYSE:SO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Southern had a net margin of 13.77% and a return on equity of 12.50%. The business earned $4.45 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business posted $0.71 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Southern Co. will post $2.86 EPS for the current fiscal year.
SO has been the subject of several recent research reports. Jefferies Group reiterated a “hold” rating on shares of Southern in a research note on Thursday, August 4th. Argus reiterated a “buy” rating on shares of Southern in a research note on Wednesday, June 15th. SunTrust Banks Inc. decreased their target price on shares of Southern from $52.00 to $51.00 and set a “neutral” rating for the company in a research note on Monday, September 12th. Zacks Investment Research upgraded shares of Southern from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, September 27th. Finally, Mizuho increased their target price on shares of Southern from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $53.50.
In other news, EVP Christopher C. Womack sold 46,008 shares of Southern stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total value of $2,456,827.20. Following the completion of the transaction, the executive vice president now directly owns 56,149 shares of the company’s stock, valued at approximately $2,998,356.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark A. Crosswhite sold 167,273 shares of Southern stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.30, for a total transaction of $8,915,650.90. Following the completion of the transaction, the chief executive officer now directly owns 171,983 shares of the company’s stock, valued at $9,166,693.90. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.
Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Co. (NYSE:SO).
Receive News & Ratings for Southern Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Co. and related companies with MarketBeat.com's FREE daily email newsletter.