Southern Company (The) (SO) Position Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp cut its stake in shares of Southern Company (The) (NYSE:SO) by 85.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,796 shares of the company’s stock after selling 93,369 shares during the period. Mackenzie Financial Corp’s holdings in Southern Company (The) were worth $810,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in shares of Southern Company (The) during the third quarter valued at approximately $101,000. CWM LLC increased its stake in shares of Southern Company (The) by 229.9% in the third quarter. CWM LLC now owns 2,039 shares of the company’s stock valued at $105,000 after buying an additional 1,421 shares in the last quarter. Ledyard National Bank increased its stake in shares of Southern Company (The) by 112.3% in the third quarter. Ledyard National Bank now owns 2,410 shares of the company’s stock valued at $124,000 after buying an additional 1,275 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Southern Company (The) by 65.0% in the third quarter. Joel Isaacson & Co. LLC now owns 2,606 shares of the company’s stock valued at $134,000 after buying an additional 1,027 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its stake in shares of Southern Company (The) by 1.1% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 3,406 shares of the company’s stock valued at $175,000 after buying an additional 37 shares in the last quarter. Institutional investors own 51.44% of the company’s stock.

Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

Shares of Southern Company (NYSE:SO) traded up 0.39% during mid-day trading on Friday, reaching $49.05. The company’s stock had a trading volume of 3,502,558 shares. The company has a 50-day moving average of $48.95 and a 200-day moving average of $50.17. The firm has a market cap of $48.07 billion, a PE ratio of 18.42 and a beta of 0.05. Southern Company has a 12 month low of $46.20 and a 12 month high of $54.64.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, February 16th. Southern Company (The)’s payout ratio is 83.27%.

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Several equities research analysts have recently commented on the stock. RBC Capital Markets restated a “hold” rating and issued a $54.00 target price on shares of Southern Company (The) in a research note on Wednesday, January 4th. Zacks Investment Research upgraded shares of Southern Company (The) from a “sell” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Monday, January 16th. Citigroup Inc. started coverage on shares of Southern Company (The) in a research note on Thursday, December 15th. They issued a “sell” rating and a $44.00 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Southern Company (The) in a research report on Wednesday, January 25th. They set an “underperform” rating and a $47.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.92.

In related news, CEO William P. Bowers sold 70,680 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

About Southern Company (The)

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.

5 Day Chart for NYSE:SO

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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