Service Corporation International (NYSE:SCI) Position Reduced by Cerity Partners LLC

Cerity Partners LLC lowered its stake in Service Corporation International (NYSE:SCI) by 2.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,559 shares of the company’s stock after selling 1,055 shares during the period. Cerity Partners LLC’s holdings in Service Corporation International were worth $3,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP grew its stake in Service Corporation International by 359.8% in the fourth quarter. Quarry LP now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 367 shares in the last quarter. Mizuho Bank Ltd. acquired a new stake in Service Corporation International during the fourth quarter valued at approximately $40,000. Resona Asset Management Co. Ltd. bought a new position in Service Corporation International during the 4th quarter worth approximately $40,000. GeoWealth Management LLC acquired a new position in shares of Service Corporation International in the 4th quarter worth approximately $53,000. Finally, Fifth Third Bancorp increased its holdings in shares of Service Corporation International by 12.2% in the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company’s stock valued at $114,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.

Service Corporation International Stock Down 0.0%

NYSE:SCI opened at $79.83 on Friday. The firm has a market capitalization of $11.36 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.92. Service Corporation International has a 52 week low of $70.46 and a 52 week high of $89.37. The company has a current ratio of 0.51, a quick ratio of 0.46 and a debt-to-equity ratio of 2.87. The stock has a 50 day moving average of $79.09 and a 200-day moving average of $78.54.

Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. Analysts predict that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.32 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.28 annualized dividend and a yield of 1.60%. Service Corporation International’s dividend payout ratio is presently 35.16%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SCI shares. Wall Street Zen upgraded Service Corporation International from a “sell” rating to a “hold” rating in a research note on Thursday, April 3rd. UBS Group reduced their price target on shares of Service Corporation International from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.25.

Insider Transactions at Service Corporation International

In other Service Corporation International news, Director Tony Coelho sold 5,400 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $75.94, for a total value of $410,076.00. Following the completion of the transaction, the director owned 43,938 shares in the company, valued at approximately $3,336,651.72. This represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by insiders.

About Service Corporation International

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.