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Recent hedge fund activities show significant changes in holdings for Southern Company. Notably, Heritage Wealth Management Inc. acquired a $372,000 position, while Sanctuary Advisors LLC invested $27.4 million. Overall, institutional investors now own 64.10% of the stock.
Southern Stock Performance
Shares of NYSE: SO climbed 0.8% to $90.88. The stock’s 50-day average is $87.42, with a 1-year range from $61.56 to $91.77. Southern Company has a market cap of $99.37 billion and a P/E ratio of 23.48.
Quarterly Earnings Update
Southern Company reported earnings of $1.10 per share on August 1, exceeding estimates by $0.19, with revenues of $6.46 billion, up 12.4% year-over-year.
Dividend Information
The company announced a quarterly dividend of $0.72 per share, with an annual yield of 3.17% and a payout ratio of 74.42%.
Insider Transactions
CEO Anthony L. Wilson sold 6,900 shares on July 5 at $77.61 each, totaling $535,509. EVP Bryan D. Anderson sold 6,565 shares on September 6 at $89.54, valued at $587,830. Insiders sold a total of 15,845 shares recently.
Analyst Ratings
Analysts have mixed opinions, with Mizuho downgrading to “neutral” and JPMorgan increasing their target from $80 to $87. The consensus rating is “Hold” with an average target price of $86.60.
About Southern Company
Southern Company engages in electricity generation and distribution, including renewable energy projects, across several states.
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