Strategic Financial Concepts LLC Has $22.17 Million Position in The Southern Company (NYSE:SO)

Strategic Financial Concepts LLC grew its holdings in The Southern Company (NYSE:SO) by 9,665.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 269,319 shares of the utilities provider’s stock after purchasing an additional 266,561 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Southern were worth $22,170,000 as of its most recent SEC filing.

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

Southern Stock Up 0.9 %

NYSE SO opened at $84.53 on Friday. The Southern Company has a 1-year low of $65.80 and a 1-year high of $94.45. The company has a market capitalization of $92.62 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.86 and a beta of 0.53. The stock’s 50 day moving average is $83.47 and its two-hundred day moving average is $86.63. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66.

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 given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, February 18th. Southern’s dividend payout ratio (DPR) is 66.98%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts recently commented on SO shares. Scotiabank lifted their target price on shares of Southern from $96.00 to $98.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley decreased their target price on Southern from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Guggenheim downgraded Southern from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Barclays increased their price objective on Southern from $71.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Mizuho boosted their target price on shares of Southern from $83.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. One equities research 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. According to data from MarketBeat.com, Southern has a consensus rating of “Hold” and a consensus price target of $89.79.

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.