Hilltop Holdings Inc. acquired a new stake in shares of Service Co. International (NYSE:SCI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,973 shares of the company’s stock, valued at approximately $393,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCI. Fort L.P. purchased a new stake in shares of Service Co. International in the second quarter worth about $120,000. Hirtle Callaghan & Co LLC purchased a new stake in shares of Service Co. International in the second quarter worth about $161,000. Cerebellum GP LLC purchased a new stake in shares of Service Co. International in the second quarter worth about $176,000. TLP Group LLC lifted its holdings in shares of Service Co. International by 46,069.2% in the first quarter. TLP Group LLC now owns 6,002 shares of the company’s stock worth $227,000 after buying an additional 5,989 shares in the last quarter. Finally, AMP Capital Investors Ltd purchased a new stake in shares of Service Co. International in the second quarter worth about $243,000. 85.55% of the stock is currently owned by institutional investors and hedge funds.
In other Service Co. International news, Director Edward E. Williams sold 7,835 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $39.52, for a total transaction of $309,639.20. Following the transaction, the director now directly owns 56,663 shares in the company, valued at $2,239,321.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven A. Tidwell sold 32,150 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $41.80, for a total transaction of $1,343,870.00. Following the transaction, the vice president now owns 78,747 shares in the company, valued at $3,291,624.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 845,985 shares of company stock worth $33,859,909. 6.60% of the stock is owned by company insiders.
Shares of SCI stock traded up $0.55 during trading on Friday, hitting $44.47. The company had a trading volume of 1,724,428 shares, compared to its average volume of 1,111,713. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 2.37. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Service Co. International has a 52 week low of $33.16 and a 52 week high of $44.53.
Service Co. International (NYSE:SCI) last posted its quarterly earnings data on Monday, July 30th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The company had revenue of $796.09 million for the quarter, compared to analysts’ expectations of $792.56 million. Service Co. International had a net margin of 15.59% and a return on equity of 23.37%. Service Co. International’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts forecast that Service Co. International will post 1.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. This is a boost from Service Co. International’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, September 13th. Service Co. International’s dividend payout ratio is 43.87%.
A number of brokerages have recently issued reports on SCI. Credit Suisse Group increased their price target on shares of Service Co. International from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. ValuEngine upgraded shares of Service Co. International from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Finally, Zacks Investment Research upgraded shares of Service Co. International from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $45.00.
Service Co. International Profile
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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