The Southern Company (NYSE:SO) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. grew its stake in The Southern Company (NYSE:SO) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,188 shares of the utilities provider’s stock after acquiring an additional 1,566 shares during the quarter. Essex Financial Services Inc.’s holdings in Southern were worth $3,473,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Financial Enhancement Group LLC acquired a new stake in Southern during the fourth quarter worth about $326,000. OneAscent Financial Services LLC acquired a new stake in shares of Southern during the 3rd quarter worth approximately $576,000. Fisher Asset Management LLC raised its position in shares of Southern by 5.4% during the 3rd quarter. Fisher Asset Management LLC now owns 108,361 shares of the utilities provider’s stock valued at $9,772,000 after buying an additional 5,589 shares during the period. Verity & Verity LLC lifted its holdings in Southern by 2.8% in the fourth quarter. Verity & Verity LLC now owns 201,971 shares of the utilities provider’s stock valued at $16,626,000 after acquiring an additional 5,434 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Southern by 94.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 288,679 shares of the utilities provider’s stock worth $26,033,000 after acquiring an additional 140,151 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.

Southern Stock Up 1.0 %

Shares of NYSE SO opened at $85.47 on Tuesday. The stock has a market cap of $93.64 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The Southern Company has a 52-week low of $65.80 and a 52-week high of $94.45. The business has a 50-day moving average price of $83.37 and a 200 day moving average price of $86.71. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66.

Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.37%. Southern’s dividend payout ratio (DPR) is 66.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets decreased their price target on Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Morgan Stanley lowered their target price on shares of Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Barclays boosted their price target on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank lifted their target price on shares of Southern from $96.00 to $98.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, Mizuho upped their price target on Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.79.

Insider Activity at Southern

In other news, EVP Martin Bernard Davis sold 1,170 shares of Southern stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $85.90, for a total transaction of $100,503.00. Following the completion of the transaction, the executive vice president now owns 88,393 shares of the company’s stock, valued at $7,592,958.70. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

About Southern

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.