The Southern Company (NYSE:SO) Stock Holdings Lessened by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its stake in shares of The Southern Company (NYSE:SO) by 8.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,234 shares of the utilities provider’s stock after selling 1,356 shares during the period. Confluence Wealth Services Inc.’s holdings in Southern were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Southern in the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its position in Southern by 168.1% during the 3rd quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 195 shares during the period. WFA Asset Management Corp grew its stake in shares of Southern by 84.9% in the fourth quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 197 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Southern by 244.4% during the fourth quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 308 shares during the period. Finally, West Branch Capital LLC grew its position in Southern by 34.7% in the 3rd quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock valued at $45,000 after buying an additional 129 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SO. Mizuho boosted their price target on shares of Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays upped their target price on Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Morgan Stanley dropped their price objective on Southern from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim lowered Southern from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets dropped their price target on shares of Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.79.

Insiders Place Their Bets

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

Southern Price Performance

Shares of NYSE:SO opened at $83.19 on Wednesday. The company’s fifty day moving average is $83.83 and its two-hundred day moving average is $86.66. The company has a market cap of $91.15 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The Southern Company has a 12-month low of $65.80 and a 12-month high of $94.45. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.46%. The ex-dividend date is Tuesday, February 18th. Southern’s dividend payout ratio is currently 66.98%.

Southern Company Profile

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.