Citigroup Inc. Raises Stock Holdings in The Southern Company (NYSE:SO)

Citigroup Inc. grew its stake in The Southern Company (NYSE:SOFree Report) by 44.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,006,863 shares of the utilities provider’s stock after buying an additional 308,599 shares during the period. Citigroup Inc. owned 0.09% of Southern worth $65,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. VisionPoint Advisory Group LLC purchased a new position in Southern in the 2nd quarter worth $27,000. Intrepid Capital Management Inc. acquired a new position in shares of Southern in the second quarter valued at about $30,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Southern in the fourth quarter worth about $34,000. VitalStone Financial LLC acquired a new stake in shares of Southern during the second quarter worth about $35,000. Finally, RVW Wealth LLC purchased a new stake in Southern in the third quarter valued at approximately $35,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Stephen E. Kuczynski sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $71.99, for a total transaction of $359,950.00. Following the completion of the sale, the chief executive officer now directly owns 101,284 shares in the company, valued at $7,291,435.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Christopher Cummiskey sold 899 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the transaction, the executive vice president now directly owns 22,502 shares in the company, valued at approximately $1,508,984.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen E. Kuczynski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $71.99, for a total value of $359,950.00. Following the completion of the sale, the chief executive officer now directly owns 101,284 shares of the company’s stock, valued at approximately $7,291,435.16. The disclosure for this sale can be found here. Insiders have sold a total of 30,998 shares of company stock worth $2,176,813 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on SO shares. Mizuho dropped their price objective on shares of Southern from $76.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, November 21st. Scotiabank lowered Southern from a “sector outperform” rating to a “sector perform” rating and set a $78.00 price objective for the company. in a research note on Friday, November 3rd. JPMorgan Chase & Co. boosted their price objective on Southern from $69.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, November 29th. StockNews.com upgraded Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Citigroup assumed coverage on Southern in a research report on Friday, December 8th. They issued a “buy” rating and a $82.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.00.

Read Our Latest Report on SO

Southern Stock Down 0.0 %

SO stock opened at $66.91 on Friday. The Southern Company has a 52 week low of $61.56 and a 52 week high of $75.80. The company has a quick ratio of 0.63, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The firm has a 50-day simple moving average of $70.10 and a 200-day simple moving average of $68.93. The stock has a market capitalization of $72.97 billion, a P/E ratio of 24.16, a P/E/G ratio of 4.18 and a beta of 0.50.

Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.18%. Southern’s payout ratio is currently 101.08%.

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

See Also

Institutional Ownership by Quarter for Southern (NYSE:SO)

Receive News & Ratings for Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern and related companies with MarketBeat.com's FREE daily email newsletter.