RDA Financial Network Has $1.74 Million Stock Holdings in The Southern Company (NYSE:SO)

RDA Financial Network lowered its position in The Southern Company (NYSE:SOFree Report) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 19,239 shares of the utilities provider’s stock after selling 1,254 shares during the period. RDA Financial Network’s holdings in Southern were worth $1,735,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SO. Capital International Investors lifted its position in Southern by 45.9% in the 1st quarter. Capital International Investors now owns 23,994,733 shares of the utilities provider’s stock valued at $1,721,382,000 after acquiring an additional 7,550,570 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Southern by 36.0% in the fourth quarter. Wellington Management Group LLP now owns 3,529,052 shares of the utilities provider’s stock valued at $247,457,000 after purchasing an additional 934,447 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Southern by 2,719.7% during the second quarter. 1832 Asset Management L.P. now owns 872,373 shares of the utilities provider’s stock worth $67,670,000 after buying an additional 841,435 shares in the last quarter. Wulff Hansen & CO. raised its position in Southern by 7,657.0% in the 2nd quarter. Wulff Hansen & CO. now owns 571,148 shares of the utilities provider’s stock valued at $44,304,000 after buying an additional 563,785 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Southern by 35.0% during the 1st quarter. Capital Research Global Investors now owns 1,929,980 shares of the utilities provider’s stock valued at $138,457,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SO. The Goldman Sachs Group increased their target price on shares of Southern from $83.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group started coverage on Southern in a research note on Friday, September 20th. They issued a “hold” rating and a $94.00 target price on the stock. Mizuho downgraded Southern from an “outperform” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Monday, September 16th. Wolfe Research cut Southern from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised their target price on Southern from $77.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.07.

Get Our Latest Report on Southern

Southern Stock Performance

Southern stock traded up $0.91 during mid-day trading on Tuesday, reaching $90.75. The company’s stock had a trading volume of 2,166,623 shares, compared to its average volume of 4,444,741. The firm’s fifty day moving average price is $88.37 and its two-hundred day moving average price is $81.20. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.91. The Southern Company has a 12-month low of $64.53 and a 12-month high of $91.86. The company has a market capitalization of $99.23 billion, a P/E ratio of 21.68, a PEG ratio of 3.16 and a beta of 0.52.

Southern (NYSE:SOGet Free Report) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Southern had a return on equity of 12.88% and a net margin of 17.67%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Sell-side analysts predict that The Southern Company will post 4.02 EPS for the current fiscal year.

Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.17%. Southern’s dividend payout ratio is currently 68.57%.

Insiders Place Their Bets

In other Southern news, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the transaction, the executive vice president now owns 12,500 shares in the company, valued at $1,112,375. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $89.54, for a total value of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sterling A. Jr. Spainhour sold 2,380 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $88.99, for a total value of $211,796.20. Following the completion of the sale, the executive vice president now directly owns 12,500 shares in the company, valued at approximately $1,112,375. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,945 shares of company stock worth $3,488,826 in the last quarter. 0.18% of the stock is owned by company insiders.

Southern Company Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. 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.

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Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Southern Company (NYSE:SOFree Report).

Institutional Ownership by Quarter for Southern (NYSE:SO)

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