Columbia Asset Management Sells 5,805 Shares of Southern Company (The) (SO)

Columbia Asset Management Sells 5,805 Shares of Southern Company (The) (SO)

Columbia Asset Management decreased its position in Southern Company (The) (NYSE:SO) by 20.1% during the third quarter, Holdings Channel reports. The institutional investor owned 23,127 shares of the company’s stock after selling 5,805 shares during the period. Columbia Asset Management’s holdings in Southern Company (The) were worth $1,186,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of SO. Capital International Investors increased its stake in shares of Southern Company (The) by 517.2% in the second quarter. Capital International Investors now owns 3,225,300 shares of the company’s stock valued at $172,973,000 after buying an additional 2,702,700 shares during the period. BlackRock Fund Advisors increased its stake in shares of Southern Company (The) by 13.0% in the second quarter. BlackRock Fund Advisors now owns 19,032,403 shares of the company’s stock valued at $1,020,708,000 after buying an additional 2,194,490 shares during the period. Wells Fargo & Company MN increased its stake in shares of Southern Company (The) by 20.7% in the third quarter. Wells Fargo & Company MN now owns 12,220,635 shares of the company’s stock valued at $626,918,000 after buying an additional 2,099,472 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Southern Company (The) during the second quarter valued at about $75,105,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Southern Company (The) during the third quarter valued at about $62,873,000. Institutional investors own 51.49% of the company’s stock.

Southern Company (NYSE:SO) opened at 48.48 on Friday. The company has a 50-day moving average of $48.93 and a 200-day moving average of $50.51. The company has a market capitalization of $47.51 billion, a PE ratio of 18.21 and a beta of 0.04. Southern Company has a 52 week low of $46.20 and a 52 week high of $54.64.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 6th. Investors of record on Tuesday, February 21st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.24 annualized dividend and a yield of 4.62%. Southern Company (The)’s payout ratio is 83.27%.

Several equities research analysts recently issued reports on SO shares. Zacks Investment Research downgraded shares of Southern Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Citigroup Inc. began coverage on shares of Southern Company (The) in a research report on Thursday, December 15th. They set a “sell” rating and a $44.00 price objective for the company. RBC Capital Markets restated a “hold” rating and set a $54.00 price objective on shares of Southern Company (The) in a research report on Wednesday, January 4th. Finally, Credit Suisse Group began coverage on shares of Southern Company (The) in a research report on Wednesday. They set an “underperform” rating and a $47.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Southern Company (The) currently has an average rating of “Hold” and an average target price of $52.42.

In related news, CEO William P. Bowers sold 70,680 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $48.88, for a total value of $3,454,838.40. Following the transaction, the chief executive officer now owns 122,669 shares in the company, valued at $5,996,060.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Southern Company (The) Company Profile

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. Southern Company’s segments include the sale of electricity by four traditional operating companies, Southern Power and All Other.

Want to see what other hedge funds are holding SO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Company (The) (NYSE:SO).

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