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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InStratos Wealth Partners LTD. significantly increased its holdings in Southern Company (NYSE:SO) during the third quarter, boosting its stake by 32.2%. The investment firm's total holdings in the utility giant now stand at 74,589 shares, valued at approximately $7.07 million. This move underscores a broader trend, as institutional investors collectively own about 64.1% of Southern Company's stock. The increased institutional confidence may be partly attributed to Southern Company's consistent dividend payouts. The company recently declared a quarterly dividend of $0.74 per share, translating to an annualized dividend of $2.96 and a yield of 3.3%. Such an increase by a major institutional player is generally perceived as a bullish signal for the company's stock performance.