Service Corporation International (SCI) Stake Decreased by Credit Suisse AG
Credit Suisse AG reduced its position in Service Corporation International (NYSE:SCI) by 21.9% during the first quarter, Holdings Channel reports. The fund owned 221,611 shares of the company’s stock after selling 62,312 shares during the period. Credit Suisse AG’s holdings in Service Corporation International were worth $6,844,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its position in Service Corporation International by 62.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 342,000 shares of the company’s stock worth $10,561,000 after buying an additional 131,846 shares during the last quarter. Retirement Systems of Alabama increased its position in Service Corporation International by 130.2% in the first quarter. Retirement Systems of Alabama now owns 566,304 shares of the company’s stock worth $17,487,000 after buying an additional 320,317 shares during the last quarter. State of Alaska Department of Revenue increased its position in Service Corporation International by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 19,454 shares of the company’s stock worth $600,000 after buying an additional 959 shares during the last quarter. DnB Asset Management AS acquired a new position in Service Corporation International during the first quarter worth about $3,578,000. Finally, Reliance Trust Co. of Delaware acquired a new position in Service Corporation International during the first quarter worth about $321,000. Institutional investors own 85.61% of the company’s stock.
Shares of Service Corporation International (SCI) opened at 34.12 on Wednesday. The company has a market capitalization of $6.41 billion, a P/E ratio of 21.83 and a beta of 0.93. The company has a 50-day moving average of $32.75 and a 200 day moving average of $31.20. Service Corporation International has a 12 month low of $24.90 and a 12 month high of $34.38.
Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, April 26th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Service Corporation International had a net margin of 9.94% and a return on equity of 23.87%. The company 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 earned $0.28 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Thursday, June 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, June 13th. This is an increase from Service Corporation International’s previous quarterly dividend of $0.13. Service Corporation International’s payout ratio is currently 38.22%.
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A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Service Corporation International from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. BidaskClub upgraded shares of Service Corporation International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Deutsche Bank AG assumed coverage on shares of Service Corporation International in a research report on Monday, May 1st. They issued a “buy” rating and a $40.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Service Corporation International has a consensus rating of “Buy” and an average price target of $34.80.
In other news, Director Alan R. Buckwalter III sold 39,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $32.23, for a total value of $1,256,970.00. Following the sale, the director now owns 70,343 shares in the company, valued at approximately $2,267,154.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sumner J. Waring III sold 82,400 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $32.25, for a total transaction of $2,657,400.00. Following the completion of the sale, the vice president now owns 408,452 shares in the company, valued at approximately $13,172,577. The disclosure for this sale can be found here. Insiders sold a total of 331,400 shares of company stock worth $10,639,948 in the last 90 days. 6.20% of the stock is 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.
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