Tnb Financial decreased its stake in Southern Co (NYSE:SO) by 52.42% based on its latest 2016Q2 regulatory filing with the SEC. Tnb Financial sold 87,627 shares as the company’s stock rose 9.99% with the market. The institutional investor held 79,528 shares of the central company at the end of 2016Q2, valued at $4.11M, down from 167,155 at the end of the previous reported quarter. Tnb Financial who had been investing in Southern Co for a number of months, seems to be less bullish one the $51.12B market cap company. The stock is down 1.59% or $0.83 after the negative news, hitting $51.13 per share. About 2.50 million shares traded hands. Southern Co (NYSE:SO) has risen 6.43% since February 8, 2016 and is uptrending. It has underperformed by 10.06% the S&P500.
The institutional sentiment decreased to 1.33 in Q2 2016. Its down 0.11, from 1.44 in 2016Q1. The ratio fall, as 51 funds sold all SO shares owned while 319 reduced positions. 75 funds bought stakes while 416 increased positions. They now own 460.78 million shares or 0.44% more from 458.75 million shares in 2016Q1.
Hilton Capital Management Llc holds 3.46% of its portfolio in SO for 204,394 shares. Welch Group Llc owns 294,800 shares or 3.22% of their US portfolio. Moreover, Rfg Advisory Group Llc has 2.97% invested in the company for 63,696 shares. The Massachusetts-based Rockland Trust Co has invested 2.91% in the stock. Alethea Capital Management Llc, a California-based fund reported 38,564 shares.
Out of 8 analysts covering The Southern Company (NYSE:SO), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. $62 is the highest target while $45.50 is the lowest. The $50.39 average target is -1.45% below today’s ($51.13) stock price. The Southern Company has been the topic of 11 analyst reports since September 22, 2015 according to StockzIntelligence Inc. Howard Weil initiated the stock on May 13 with “Sector Perform” rating. Goldman Sachs maintained the shares of SO in a report on July 14 with “Neutral” rating. Lastly, SunTrust maintained the stock with “Neutral” rating in an October 19 report.
The Southern Company is a holding company. The company has a market cap of $51.12 billion. The Firm owns all of the stock of the traditional operating companies and Southern Power Company (Southern Power), and owns other direct and indirect subsidiaries. It has a 20.32 P/E ratio. Southern Company’s divisions include the sale of electricity by four traditional operating companies, Southern Power and All Other.
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