The Southern Company (NYSE:SO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in The Southern Company (NYSE:SO - Free Report) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,351,025 shares of the utilities provider's stock after purchasing an additional 52,799 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Southern worth $121,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Woodmont Investment Counsel LLC increased its holdings in shares of Southern by 0.5% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 35,823 shares of the utilities provider's stock worth $3,231,000 after buying an additional 168 shares during the last quarter. Ironsides Asset Advisors LLC purchased a new position in Southern in the third quarter worth approximately $273,000. Walkner Condon Financial Advisors LLC increased its stake in Southern by 32.2% during the third quarter. Walkner Condon Financial Advisors LLC now owns 5,672 shares of the utilities provider's stock worth $511,000 after acquiring an additional 1,381 shares during the last quarter. Baugh & Associates LLC raised its position in Southern by 0.3% in the third quarter. Baugh & Associates LLC now owns 61,493 shares of the utilities provider's stock valued at $5,384,000 after purchasing an additional 210 shares during the period. Finally, Wealth Architects LLC acquired a new position in shares of Southern in the 3rd quarter valued at $229,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.

Southern Stock Up 2.0 %

NYSE SO traded up $1.71 during trading hours on Friday, hitting $88.64. 3,805,942 shares of the company were exchanged, compared to its average volume of 4,461,732. The company has a 50 day moving average of $89.93 and a two-hundred day moving average of $83.75. 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 firm has a market cap of $97.12 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.11 and a beta of 0.52. The Southern Company has a 52-week low of $65.80 and a 52-week high of $94.45.

Southern (NYSE:SO - Get Free Report) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. Southern had a net margin of 17.87% and a return on equity of 12.78%. The firm had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $7.14 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm's revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that The Southern Company will post 4.04 earnings per share for the current year.

Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, November 18th. Southern's dividend payout ratio is presently 66.98%.

Insider Transactions at Southern

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SO shares. JPMorgan Chase & Co. raised their price objective on Southern from $80.00 to $87.00 and gave the stock an "underweight" rating in a research report on Monday, August 12th. Barclays lifted 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. Bank of America upped their price objective on shares of Southern from $86.00 to $87.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Guggenheim lifted their target price on shares of Southern from $93.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upped their price target on Southern from $78.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $89.27.

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.