Renaissance Technologies LLC Acquires 709,400 Shares of Southern Company (The) (SO)

Renaissance Technologies LLC increased its holdings in shares of Southern Company (The) (NYSE:SO) by 38.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,537,400 shares of the utilities provider’s stock after buying an additional 709,400 shares during the quarter. Renaissance Technologies LLC owned 0.25% of Southern Company (The) worth $121,491,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Norinchukin Bank The increased its holdings in Southern Company (The) by 5.5% during the 1st quarter. Norinchukin Bank The now owns 115,163 shares of the utilities provider’s stock worth $5,733,000 after purchasing an additional 5,964 shares in the last quarter. Wills Financial Group Inc. lifted its stake in Southern Company (The) by 6.5% in the 1st quarter. Wills Financial Group Inc. now owns 52,525 shares of the utilities provider’s stock valued at $2,615,000 after purchasing an additional 3,183 shares during the last quarter. Quantitative Investment Management LLC lifted its stake in Southern Company (The) by 194.3% in the 1st quarter. Quantitative Investment Management LLC now owns 67,100 shares of the utilities provider’s stock valued at $3,340,000 after purchasing an additional 44,300 shares during the last quarter. Stuart Chaussee & Associates Inc. lifted its stake in Southern Company (The) by 358.8% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 2,225 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Symmetry Partners LLC acquired a new stake in Southern Company (The) in the 1st quarter valued at about $103,000. 52.88% of the stock is currently owned by institutional investors and hedge funds.

In other Southern Company (The) news, VP James Y. Kerr II sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $52.16, for a total value of $1,304,000.00. Following the completion of the transaction, the vice president now directly owns 26,000 shares in the company, valued at $1,356,160. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William P. Bowers sold 85,151 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $4,257,550.00. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock valued at $11,029,988 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

A number of analysts have weighed in on SO shares. Zacks Investment Research cut shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Deutsche Bank AG raised shares of Southern Company (The) from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $52.00 in a research note on Tuesday, August 1st. Guggenheim raised shares of Southern Company (The) from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $56.00 in a research note on Thursday, September 14th. Mizuho upgraded shares of Southern Company (The) from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, September 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $53.00 price objective on shares of Southern Company (The) in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.72.

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Southern Company (NYSE:SO) opened at $52.31 on Wednesday. Southern Company has a twelve month low of $46.20 and a twelve month high of $53.51. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.73. The company has a market cap of $52,008.00, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.68 and a beta of 0.15.

Southern Company (The) (NYSE:SO) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.16 billion. Southern Company (The) had a net margin of 2.59% and a return on equity of 10.81%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 EPS. research analysts forecast that Southern Company will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Monday, November 20th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $2.32 annualized dividend and a yield of 4.44%. Southern Company (The)’s dividend payout ratio (DPR) is presently 414.29%.

Southern Company (The) Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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