Trade Report: The OLD Republic International Corp Maintains Position in Southern Co. (SO)

The OLD Republic International Corp Maintains Position in Southern Co. (SO)

OLD Republic International Corp maintained its position in Southern Co. (NYSE:SO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,500 shares of the company’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in Southern were worth $20,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SO. World Asset Management Inc raised its position in Southern by 3.5% in the second quarter. World Asset Management Inc now owns 96,154 shares of the company’s stock worth $5,157,000 after buying an additional 3,246 shares in the last quarter. Huntington National Bank raised its position in Southern by 167.6% in the second quarter. Huntington National Bank now owns 255,875 shares of the company’s stock worth $13,723,000 after buying an additional 160,243 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its position in Southern by 3,155.2% in the second quarter. Atalanta Sosnoff Capital LLC now owns 394,526 shares of the company’s stock worth $21,159,000 after buying an additional 382,406 shares in the last quarter. Bank of New York Mellon Corp raised its position in Southern by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 10,577,864 shares of the company’s stock worth $567,291,000 after buying an additional 57,511 shares in the last quarter. Finally, Edgar Lomax Co. VA raised its position in Southern by 23.5% in the first quarter. Edgar Lomax Co. VA now owns 555,384 shares of the company’s stock worth $28,730,000 after buying an additional 105,850 shares in the last quarter. 48.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Southern Co. (NYSE:SO) traded down 0.12% on Friday, reaching $50.70. 5,012,659 shares of the company traded hands. The stock has a market cap of $47.74 billion, a price-to-earnings ratio of 20.13 and a beta of 0.08. The stock has a 50 day moving average of $51.19 and a 200 day moving average of $51.35. Southern Co. has a 52-week low of $43.38 and a 52-week high of $54.64.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, November 17th. Southern’s payout ratio is presently 87.50%.

A number of equities analysts recently commented on SO shares. SunTrust Banks Inc. decreased their price objective 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 raised 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. Barclays PLC raised shares of Southern from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $62.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $54.00 target price on shares of Southern in a research note on Thursday, July 14th. Finally, Jefferies Group reissued a “hold” rating on shares of Southern in a research note on Monday, July 11th. One analyst has 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 company has an average rating of “Hold” and an average price target of $53.50.

In other Southern news, CEO Stan W. Connally sold 14,392 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $53.75, for a total value of $773,570.00. Following the completion of the sale, the chief executive officer now owns 17,716 shares of the company’s stock, valued at $952,235. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.40, for a total transaction of $2,456,827.20. Following the completion of the sale, the executive vice president now directly owns 56,149 shares of the company’s stock, valued at approximately $2,998,356.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

About Southern

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.

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