Teachers Retirement System of The State of Kentucky reduced its stake in shares of Service Corporation International (NYSE:SCI) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,010 shares of the company’s stock after selling 4,290 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Service Corporation International were worth $1,328,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SCI. Point72 Asset Management L.P. purchased a new position in shares of Service Corporation International during the first quarter valued at about $5,555,000. HighTower Advisors LLC purchased a new position in shares of Service Corporation International during the first quarter valued at about $255,000. Caxton Associates LP purchased a new position in shares of Service Corporation International during the first quarter valued at about $4,490,000. Barings LLC purchased a new position in shares of Service Corporation International during the first quarter valued at about $2,444,000. Finally, Paloma Partners Management Co increased its position in shares of Service Corporation International by 99.4% in the first quarter. Paloma Partners Management Co now owns 83,997 shares of the company’s stock valued at $2,594,000 after buying an additional 41,880 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors.
Shares of Service Corporation International (SCI) traded up 0.09% during trading on Tuesday, reaching $35.10. 689,327 shares of the company traded hands. The firm has a market capitalization of $6.57 billion, a PE ratio of 19.02 and a beta of 0.93. The firm has a 50-day moving average price of $33.66 and a 200-day moving average price of $31.65. Service Corporation International has a 12 month low of $24.90 and a 12 month high of $35.50.
Service Corporation International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $769.57 million. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. Equities research analysts anticipate that Service Corporation International will post $1.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, September 14th. Service Corporation International’s dividend payout ratio is currently 32.43%.
Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Service Corporation International from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Service Corporation International from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, August 1st. Deutsche Bank AG assumed coverage on shares of Service Corporation International in a research note on Monday, May 1st. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $37.00 price objective (up previously from $34.00) on shares of Service Corporation International in a research note on Friday, July 21st. Five research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $37.00.
In related news, Director Edward E. Williams sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $32.12, for a total transaction of $321,200.00. Following the completion of the sale, the director now directly owns 165,372 shares in the company, valued at $5,311,748.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $31.80, for a total transaction of $3,180,000.00. Following the sale, the chief executive officer now owns 1,175,109 shares of the company’s stock, valued at $37,368,466.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,000 shares of company stock valued at $6,725,578. 6.20% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for Service Corporation International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Corporation International and related companies with our FREE daily email newsletter.