UBS Asset Management Americas Inc. boosted its holdings in Service Corporation International (NYSE:SCI) by 23.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,225 shares of the company’s stock after buying an additional 28,401 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Service Corporation International worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCI. Renaissance Technologies LLC purchased a new position in Service Corporation International in the first quarter worth $37,427,000. PEAK6 Investments L.P. raised its stake in shares of Service Corporation International by 78.2% during the first quarter. PEAK6 Investments L.P. now owns 19,462 shares of the company’s stock valued at $601,000 after acquiring an additional 8,538 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Service Corporation International during the second quarter valued at about $1,967,000. Russell Investments Group Ltd. raised its stake in shares of Service Corporation International by 36.0% during the second quarter. Russell Investments Group Ltd. now owns 66,830 shares of the company’s stock valued at $2,235,000 after acquiring an additional 17,683 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in shares of Service Corporation International during the first quarter valued at about $243,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.
In other Service Corporation International news, CFO Eric D. Tanzberger sold 187,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $34.93, for a total value of $6,535,403.00. Following the completion of the transaction, the chief financial officer now owns 150,217 shares in the company, valued at approximately $5,247,079.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director W Blair Waltrip sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $35.07, for a total value of $70,140.00. Following the completion of the transaction, the director now owns 661,409 shares of the company’s stock, valued at approximately $23,195,613.63. The disclosure for this sale can be found here. Insiders have sold a total of 604,800 shares of company stock valued at $21,109,153 in the last quarter. Company insiders own 6.20% of the company’s stock.
A number of equities research analysts have weighed in on SCI shares. BidaskClub upgraded shares of Service Corporation International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded shares of Service Corporation International from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $39.00 price target on shares of Service Corporation International in a report on Tuesday, September 26th.
Service Corporation International (NYSE:SCI) opened at 34.34 on Wednesday. The firm has a 50-day moving average of $34.77 and a 200 day moving average of $33.32. The company has a market capitalization of $6.43 billion, a P/E ratio of 18.61 and a beta of 0.92. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89.
Service Corporation International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The company had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $769.57 million. During the same quarter in the previous year, the business earned $0.28 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Service Corporation International will post $1.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, September 14th. Service Corporation International’s payout ratio is currently 32.43%.
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.
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