Synovus Financial Corp boosted its position in Southern Co (NYSE:SO) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 931,263 shares of the utilities provider’s stock after purchasing an additional 62,321 shares during the quarter. Southern comprises 0.9% of Synovus Financial Corp’s holdings, making the stock its 19th biggest position. Synovus Financial Corp owned approximately 0.09% of Southern worth $45,761,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Iberiabank Corp grew its stake in shares of Southern by 6.5% in the 3rd quarter. Iberiabank Corp now owns 151,315 shares of the utilities provider’s stock worth $7,437,000 after purchasing an additional 9,232 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Southern in the 2nd quarter worth approximately $854,000. Fiera Capital Corp grew its stake in shares of Southern by 4.3% in the 2nd quarter. Fiera Capital Corp now owns 34,294 shares of the utilities provider’s stock worth $1,642,000 after purchasing an additional 1,399 shares during the last quarter. Willis Investment Counsel grew its stake in shares of Southern by 10.9% in the 3rd quarter. Willis Investment Counsel now owns 194,840 shares of the utilities provider’s stock worth $9,574,000 after purchasing an additional 19,200 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Southern by 1.2% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,317 shares of the utilities provider’s stock worth $159,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 53.66% of the company’s stock.
Shares of Southern Co (NYSE SO) traded down $0.41 during trading on Friday, hitting $44.84. 8,590,000 shares of the stock were exchanged, compared to its average volume of 5,850,000. Southern Co has a twelve month low of $44.44 and a twelve month high of $53.51. The firm has a market capitalization of $45,000.00, a PE ratio of 80.07, a price-to-earnings-growth ratio of 3.45 and a beta of 0.14. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.73 and a quick ratio of 0.57.
Southern (NYSE:SO) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. Southern had a net margin of 2.59% and a return on equity of 10.81%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Southern’s revenue was down 1.0% compared to the same quarter last year. equities research analysts anticipate that Southern Co will post 2.96 EPS for the current year.
In other Southern news, VP James Y. Kerr II sold 25,000 shares of the business’s stock in a transaction 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 sale, the vice president now owns 26,000 shares of the company’s stock, valued at approximately $1,356,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ann P. Daiss sold 5,080 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.28, for a total transaction of $270,662.40. Following the completion of the sale, the insider now directly owns 7,474 shares in the company, valued at approximately $398,214.72. The disclosure for this sale can be found here. Insiders have sold 128,662 shares of company stock worth $6,772,438 in the last ninety days. 0.74% of the stock is currently owned by insiders.
SO has been the topic of several analyst reports. Zacks Investment Research raised shares of Southern from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Bank of America reaffirmed an “underperform” rating and set a $51.00 price objective on shares of Southern in a research report on Tuesday, October 24th. SunTrust Banks reaffirmed a “hold” rating and set a $52.00 price objective on shares of Southern in a research report on Friday, October 20th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Southern in a research report on Wednesday. Finally, Guggenheim raised shares of Southern from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $56.00 in a research report on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $51.20.
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Southern Company 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.
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