Paloma Partners Management Co Has $2.59 Million Stake in Service Corporation International (NYSE:SCI)

Paloma Partners Management Co increased its position in shares of Service Corporation International (NYSE:SCI) by 99.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,997 shares of the company’s stock after buying an additional 41,880 shares during the period. Paloma Partners Management Co’s holdings in Service Corporation International were worth $2,594,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Anchor Capital Advisors LLC increased its position in Service Corporation International by 1.6% in the first quarter. Anchor Capital Advisors LLC now owns 10,839 shares of the company’s stock valued at $335,000 after buying an additional 170 shares during the period. Arizona State Retirement System increased its position in Service Corporation International by 0.4% in the first quarter. Arizona State Retirement System now owns 78,300 shares of the company’s stock valued at $2,418,000 after buying an additional 289 shares during the period. Wedbush Securities Inc. increased its position in Service Corporation International by 3.0% in the first quarter. Wedbush Securities Inc. now owns 12,665 shares of the company’s stock valued at $391,000 after buying an additional 374 shares during the period. PNC Financial Services Group Inc. increased its position in Service Corporation International by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 8,677 shares of the company’s stock valued at $267,000 after buying an additional 375 shares during the period. Finally, Capstone Asset Management Co. increased its position in Service Corporation International by 1.8% in the first quarter. Capstone Asset Management Co. now owns 21,095 shares of the company’s stock valued at $651,000 after buying an additional 380 shares during the period. 85.61% of the stock is currently owned by institutional investors and hedge funds.

Service Corporation International (NYSE:SCI) opened at 34.12 on Wednesday. The stock has a 50 day moving average price of $32.14 and a 200-day moving average price of $30.66. Service Corporation International has a 12-month low of $24.90 and a 12-month high of $34.38. The stock has a market capitalization of $6.41 billion, a P/E ratio of 21.83 and a beta of 0.93.

Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, April 26th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. Service Corporation International had a return on equity of 23.87% and a net margin of 9.94%. The firm had revenue of $777.70 million for the quarter, compared to the consensus estimate of $764.02 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that Service Corporation International will post $1.42 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. This is an increase from Service Corporation International’s previous quarterly dividend of $0.13. Service Corporation International’s payout ratio is 38.22%.

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SCI has been the topic of several recent analyst reports. BidaskClub upgraded Service Corporation International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG initiated coverage on Service Corporation International in a research report on Monday, May 1st. They set a “buy” rating and a $40.00 target price on the stock. Finally, Zacks Investment Research upgraded Service Corporation International from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Saturday, April 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Service Corporation International presently has an average rating of “Buy” and an average target price of $34.80.

In other Service Corporation International news, CEO Thomas L. Ryan sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $31.80, for a total value of $3,180,000.00. Following the completion of the sale, the chief executive officer now owns 1,175,109 shares of the company’s stock, valued at $37,368,466.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas L. Ryan sold 51,394 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $32.55, for a total value of $1,672,874.70. Following the completion of the sale, the chief executive officer now directly owns 1,119,503 shares of the company’s stock, valued at approximately $36,439,822.65. The disclosure for this sale can be found here. Insiders sold 331,400 shares of company stock worth $10,639,948 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

About Service Corporation International

Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.

Institutional Ownership by Quarter for Service Corporation International (NYSE:SCI)

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