Trade Report: The Strategic Financial Group LLC Acquires 4,426 Shares of Southern Co. (SO)

The Strategic Financial Group LLC Acquires 4,426  Shares of Southern Co. (SO)

Strategic Financial Group LLC purchased a new stake in shares of Southern Co. (NYSE:SO) during the second quarter, Holdings Channel reports. The fund purchased 4,426 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors have also recently bought and sold shares of the company. Montrusco Bolton Investments Inc. raised 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 during the last quarter. Courier Capital Corp raised its position in Southern by 0.3% in the second quarter. Courier Capital Corp now owns 6,914 shares of the company’s stock valued at $371,000 after buying an additional 20 shares during the last quarter. Zions Bancorporation raised 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 during the last quarter. Savant Capital LLC raised its position in Southern by 0.3% in the second quarter. Savant Capital LLC now owns 12,930 shares of the company’s stock valued at $693,000 after buying an additional 34 shares during the last quarter. Finally, MAI Capital Management raised its position in Southern by 1.1% in the second quarter. MAI Capital Management now owns 4,234 shares of the company’s stock valued at $227,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 48.64% of the company’s stock.

Southern Co. (NYSE:SO) traded down 0.12% on Friday, reaching $50.70. The company’s stock had a trading volume of 5,012,659 shares. The company has a market cap of $47.74 billion, a P/E ratio of 20.13 and a beta of 0.08. The firm’s 50-day moving average price is $51.19 and its 200 day moving average price is $51.35. Southern Co. has a 52-week low of $43.38 and a 52-week high of $54.64.

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

SO has been the topic of several analyst reports. Mizuho reissued a “hold” rating and issued a $50.00 target price on shares of Southern in a research note on Monday, July 11th. Jefferies Group reissued a “hold” rating on shares of Southern in a research note on Monday, July 11th. Barclays PLC raised Southern from an “equal weight” rating to an “overweight” rating and increased 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 issued a $54.00 target price on shares of Southern in a research note on Thursday, July 14th. Finally, SunTrust Banks Inc. cut their target price on Southern from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Southern has a consensus rating of “Hold” and an average price target of $53.50.

In other Southern news, EVP Christopher C. Womack sold 46,008 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.40, for a total value of $2,456,827.20. Following the sale, the executive vice president now owns 56,149 shares in the company, valued at approximately $2,998,356.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stan W. Connally sold 14,392 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $952,235. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Southern Company Profile

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.

Related posts

Leave a Comment