Kingsview Wealth Management LLC Has $2.83 Million Holdings in The Southern Company (NYSE:SO)

Kingsview Wealth Management LLC grew its holdings in shares of The Southern Company (NYSE:SO) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,362 shares of the utilities provider’s stock after acquiring an additional 1,102 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Southern were worth $2,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SO. Retirement Wealth Solutions LLC bought a new position in Southern in the 4th quarter valued at approximately $25,000. YANKCOM Partnership bought a new position in shares of Southern in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC boosted its holdings in shares of Southern by 168.1% during the 3rd quarter. Frazier Financial Advisors LLC now owns 311 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 195 shares in the last quarter. WFA Asset Management Corp grew its position in Southern by 84.9% during the 4th quarter. WFA Asset Management Corp now owns 429 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 197 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in Southern by 244.4% in the 4th quarter. Valley National Advisers Inc. now owns 434 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 64.10% of the company’s stock.

Southern Stock Performance

Shares of SO stock opened at $84.53 on Monday. 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 52 week low of $65.80 and a 52 week high of $94.45. The firm has a 50 day moving average of $83.37 and a 200-day moving average of $86.69. The company has a market cap of $92.62 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.41%. The ex-dividend date is Tuesday, February 18th. Southern’s dividend payout ratio (DPR) is currently 66.98%.

Insider Transactions at Southern

In other news, EVP Martin Bernard Davis sold 1,170 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 88,393 shares of the company’s stock, valued at $7,592,958.70. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

SO has been the topic of several research reports. Scotiabank boosted their price target on Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Barclays upped their price target on shares of Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho lifted their price target on shares of Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Guggenheim downgraded Southern from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets cut their target price on Southern from $99.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.79.

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.