Principal Financial Group Inc. boosted its position in Service Corp. International (NYSE:SCI) by 11.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 738,345 shares of the company’s stock after buying an additional 76,956 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Service Corp. International worth $19,965,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Service Corp. International during the fourth quarter worth approximately $40,514,000. Ameriprise Financial Inc. increased its position in Service Corp. International by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 1,053,101 shares of the company’s stock worth $28,476,000 after buying an additional 49,142 shares in the last quarter. Prudential Financial Inc. increased its position in Service Corp. International by 76.1% in the second quarter. Prudential Financial Inc. now owns 638,524 shares of the company’s stock worth $17,266,000 after buying an additional 276,000 shares in the last quarter. Aviva PLC purchased a new position in Service Corp. International during the second quarter worth approximately $15,748,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Service Corp. International by 3.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 578,254 shares of the company’s stock worth $14,271,000 after buying an additional 16,735 shares in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.
Shares of Service Corp. International (NYSE:SCI) opened at 26.54 on Friday. The firm’s 50-day moving average price is $26.60 and its 200-day moving average price is $26.48. The company has a market cap of $5.14 billion, a PE ratio of 28.94 and a beta of 0.88. Service Corp. International has a 12 month low of $20.21 and a 12 month high of $29.68.
Service Corp. International (NYSE:SCI) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The business had revenue of $751.70 million for the quarter, compared to the consensus estimate of $766.81 million. During the same quarter last year, the firm earned $0.28 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts predict that Service Corp. International will post $1.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Tuesday, September 13th. Service Corp. International’s dividend payout ratio (DPR) is presently 57.14%.
A number of equities research analysts have issued reports on SCI shares. Wells Fargo & Co. started coverage on Service Corp. International in a research report on Tuesday, August 2nd. They set a “market perform” rating for the company. Zacks Investment Research raised Service Corp. International from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Oppenheimer Holdings Inc. upped their target price on Service Corp. International from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Finally, Bank of America Corp. started coverage on Service Corp. International in a research report on Friday. They set a “buy” rating and a $32.00 target price for the company.
In other news, Director W Blair Waltrip sold 5,000 shares of Service Corp. International stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $27.07, for a total transaction of $135,350.00. Following the transaction, the director now owns 701,409 shares in the company, valued at approximately $18,987,141.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael R. Webb sold 93,300 shares of Service Corp. International stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $26.03, for a total value of $2,428,599.00. Following the transaction, the insider now owns 514,203 shares in the company, valued at approximately $13,384,704.09. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Service Corp. International Company Profile
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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