Synovus Financial Corp cut its holdings in shares of Southern Co (NYSE:SO) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 909,619 shares of the utilities provider’s stock after selling 21,644 shares during the quarter. Southern accounts for about 0.8% of Synovus Financial Corp’s investment portfolio, making the stock its 22nd largest holding. Synovus Financial Corp’s holdings in Southern were worth $43,744,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SO. Taylor Hoffman Wealth Management acquired a new stake in Southern during the 4th quarter worth about $104,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Southern during the 3rd quarter worth about $105,000. Fieldpoint Private Securities LLC purchased a new stake in shares of Southern during the 3rd quarter worth about $118,000. Thompson Davis & CO. Inc. raised its stake in shares of Southern by 152.6% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,791 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 1,686 shares in the last quarter. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Southern during the 4th quarter worth about $134,000. Hedge funds and other institutional investors own 53.87% of the company’s stock.
Southern Co (SO) opened at $43.93 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.73. Southern Co has a one year low of $42.63 and a one year high of $53.51. The firm has a market capitalization of $44,089.38, a P/E ratio of 78.45, a P/E/G ratio of 3.26 and a beta of 0.03.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, February 16th. Southern’s payout ratio is 414.29%.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Southern in a research note on Friday, December 22nd. Morgan Stanley cut their price target on Southern from $48.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 13th. ValuEngine downgraded Southern from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. UBS Group assumed coverage on Southern in a research note on Friday, February 2nd. They set a “neutral” rating and a $46.00 price target for the company. Finally, SunTrust Banks set a $47.00 price target on Southern and gave the stock a “hold” rating in a research note on Monday, February 5th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.03.
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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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