The Southern Company (NYSE:SO)’s Executive Vice President and Chief Financial Officer, Art Beattie sold a bulk of 44,329 shares of Common Stock, exercising a stock option. The shares were sold in two steps yesterday, disposing of 22,550 shares for a price of $44.5 per share and another 21,779 shares for $44.75 per share. This is Beattie’s second stock disposition of the month, as the insider unloaded 13,654 shares of Common Stock just last Thursday, paying a price of $43.81 per share.
However, insider stock sales at the $39.5 billion market cap holding firm have been less frequent this quarter, with the last large disposition dating back to the 1st of May, when President and Chief Executive Officer, Mark Crosswhite, unloaded 22,460 shares of Common Stock, paying a price of $45.15 per share.
Furthermore, the largest shareholder position amongst hedge funds this quarter is held by Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital, which newly acquired 617,457 shares, worth $27.1 million.