Insight Folios Inc grew its holdings in shares of Southern Co (NYSE:SO) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,281 shares of the utilities provider’s stock after buying an additional 584 shares during the period. Southern accounts for about 2.9% of Insight Folios Inc’s investment portfolio, making the stock its 22nd biggest holding. Insight Folios Inc’s holdings in Southern were worth $3,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SO. Private Asset Management Inc. raised its holdings in Southern by 4.1% during the second quarter. Private Asset Management Inc. now owns 55,661 shares of the utilities provider’s stock worth $2,886,000 after purchasing an additional 2,177 shares in the last quarter. FDx Advisors Inc. grew its position in Southern by 69.3% in the second quarter. FDx Advisors Inc. now owns 11,299 shares of the utilities provider’s stock worth $586,000 after buying an additional 4,627 shares during the last quarter. Nordea Investment Management AB grew its position in Southern by 1,658.7% in the second quarter. Nordea Investment Management AB now owns 2,964,098 shares of the utilities provider’s stock worth $152,652,000 after buying an additional 2,795,556 shares during the last quarter. Exane Derivatives acquired a new position in Southern in the third quarter worth approximately $478,000. Finally, Resources Investment Advisors LLC. grew its position in Southern by 23.5% in the third quarter. Resources Investment Advisors LLC. now owns 7,758 shares of the utilities provider’s stock worth $421,000 after buying an additional 1,477 shares during the last quarter. 57.29% of the stock is currently owned by institutional investors.
Shares of Southern stock traded up $0.33 on Friday, hitting $58.35. 3,241,617 shares of the company traded hands, compared to its average volume of 5,068,811. The company has a 50-day moving average price of $54.22 and a 200 day moving average price of $54.71. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.46. Southern Co has a 12-month low of $41.96 and a 12-month high of $71.10. The company has a market cap of $61.63 billion, a PE ratio of 18.94, a PEG ratio of 4.10 and a beta of 0.39.
SO has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Southern from $56.00 to $57.00 and gave the stock an “underweight” rating in a research report on Monday, October 5th. Barclays upgraded shares of Southern from an “equal weight” rating to an “overweight” rating and set a $61.00 price target on the stock in a research report on Monday, September 21st. UBS Group lowered their price objective on shares of Southern from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Mizuho cut shares of Southern from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $53.00 to $48.00 in a research report on Thursday, September 10th. Finally, KeyCorp lowered their price objective on shares of Southern from $71.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $61.90.
In other news, CEO Stephen E. Kuczynski sold 2,500 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the transaction, the chief executive officer now owns 76,996 shares of the company’s stock, valued at approximately $4,234,780. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher C. Womack sold 5,930 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $58.00, for a total value of $343,940.00. Following the transaction, the executive vice president now directly owns 12,228 shares in the company, valued at approximately $709,224. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,721 shares of company stock worth $1,301,040. 0.39% of the stock is currently owned by corporate insiders.
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates in four segments: Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also constructs, acquires, owns, and manages power generation assets, including renewable energy facilities and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations.
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