Penn Mutual Asset Management Acquires New Position in Carriage Services, Inc. (NYSE:CSV)

Penn Mutual Asset Management bought a new position in Carriage Services, Inc. (NYSE:CSV) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,200 shares of the company’s stock, valued at approximately $433,000.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Carriage Services by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock worth $284,000 after buying an additional 746 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Carriage Services by 10.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 18,861 shares of the company’s stock worth $506,000 after acquiring an additional 1,727 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Carriage Services by 201.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock valued at $6,166,000 after acquiring an additional 153,538 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Carriage Services by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 141,262 shares of the company’s stock valued at $3,791,000 after purchasing an additional 13,598 shares during the period. Finally, nVerses Capital LLC increased its position in Carriage Services by 550.0% during the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $35,000 after purchasing an additional 1,100 shares during the last quarter. 66.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carriage Services

In related news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the transaction, the vice president now owns 34,166 shares in the company, valued at approximately $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 11.30% of the company’s stock.

Carriage Services Stock Down 0.1 %

Shares of NYSE:CSV opened at $40.42 on Wednesday. The business has a 50-day moving average price of $35.39 and a 200 day moving average price of $31.67. Carriage Services, Inc. has a 12-month low of $22.84 and a 12-month high of $40.91. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $615.19 million, a price-to-earnings ratio of 18.13, a PEG ratio of 1.08 and a beta of 0.93.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The firm had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same period in the prior year, the business posted $0.33 EPS. Sell-side analysts expect that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a $0.1125 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.11%. Carriage Services’s payout ratio is presently 20.18%.

Analyst Upgrades and Downgrades

Separately, Barrington Research boosted their target price on shares of Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 31st.

About Carriage Services

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.