21,122 Shares in The Southern Company (NYSE:SO) Purchased by Nicholson Wealth Management Group LLC

by · The Cerbat Gem

Nicholson Wealth Management Group LLC bought a new position in The Southern Company (NYSE:SO – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,122 shares of the utilities provider’s stock, valued at approximately $1,905,000. Southern comprises about 1.6% of Nicholson Wealth Management Group LLC’s investment portfolio, making the stock its 12th largest position.

Other large investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in Southern in the first quarter worth about $39,000. Cedar Wealth Management LLC boosted its holdings in shares of Southern by 63.2% in the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 211 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Southern during the second quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in Southern by 31.8% during the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 141 shares in the last quarter. Finally, West Branch Capital LLC boosted its stake in Southern by 34.7% during the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Southern Stock Down 0.6 %

Shares of Southern stock opened at $93.61 on Friday. The stock has a market capitalization of $102.36 billion, a P/E ratio of 22.29, a PEG ratio of 3.33 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. The stock has a 50 day moving average price of $89.18 and a two-hundred day moving average price of $82.20.

Southern (NYSE:SO – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.91 by $0.19. Southern had a return on equity of 12.88% and a net margin of 17.67%. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts expect that The Southern Company will post 4.02 earnings per share for the current year.

Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.72 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.88 dividend on an annualized basis and a yield of 3.08%. Southern’s payout ratio is currently 68.57%.

Analyst Ratings Changes

A number of analysts have recently commented on SO shares. Barclays boosted their price objective on Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Southern in a report on Friday, September 20th. They issued a “hold” rating and a $94.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. The Goldman Sachs Group boosted their price objective on Southern from $83.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lifted their price target on Southern from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.07.

View Our Latest Analysis on Southern

Insider Buying and Selling at Southern

In related news, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the transaction, the chief executive officer now owns 145,088 shares in the company, valued at $13,005,688.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Southern news, CEO James Y. Kerr II sold 30,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $89.64, for a total value of $2,689,200.00. Following the transaction, the chief executive officer now directly owns 145,088 shares in the company, valued at $13,005,688.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan D. Anderson sold 6,565 shares of Southern stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the transaction, the executive vice president now owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,945 shares of company stock valued at $3,488,826. 0.18% of the stock is currently owned by corporate insiders.

Southern Profile

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

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