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Russell Investments Group Ltd. Increases Stake in Service Co. International (NYSE:SCI)

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Russell Investments Group Ltd. raised its position in Service Co. International (NYSE:SCIGet Rating) by 9.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 186,243 shares of the company’s stock after purchasing an additional 16,024 shares during the period. Russell Investments Group Ltd. owned 0.12% of Service Co. International worth $12,284,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Service Co. International by 3.8% during the 4th quarter. BlackRock Inc. now owns 16,245,403 shares of the company’s stock worth $1,153,262,000 after acquiring an additional 591,626 shares during the period. State Street Corp raised its holdings in shares of Service Co. International by 1.7% during the 4th quarter. State Street Corp now owns 4,506,326 shares of the company’s stock worth $319,904,000 after acquiring an additional 74,980 shares during the period. Geode Capital Management LLC raised its holdings in shares of Service Co. International by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 2,555,518 shares of the company’s stock worth $181,443,000 after acquiring an additional 157,254 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Service Co. International by 4.2% during the 4th quarter. Handelsbanken Fonder AB now owns 2,278,460 shares of the company’s stock worth $161,748,000 after acquiring an additional 92,550 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Service Co. International by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,767,093 shares of the company’s stock worth $125,443,000 after acquiring an additional 25,673 shares during the period. Hedge funds and other institutional investors own 84.03% of the company’s stock.

Service Co. International Stock Down 0.1 %

Shares of SCI opened at $64.70 on Friday. The firm has a market cap of $10.27 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.18 and a beta of 0.70. Service Co. International has a 12-month low of $57.27 and a 12-month high of $75.11. The company’s 50-day moving average price is $69.40 and its 200 day moving average price is $66.49. The company has a current ratio of 0.51, a quick ratio of 0.55 and a debt-to-equity ratio of 2.15.

Service Co. International (NYSE:SCIGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1 billion. Service Co. International had a net margin of 18.38% and a return on equity of 39.67%. Service Co. International’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. On average, sell-side analysts forecast that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.55%. The ex-dividend date is Wednesday, September 14th. Service Co. International’s dividend payout ratio is currently 21.60%.

Service Co. International declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 4th that allows the company to repurchase $394.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Oppenheimer boosted their price objective on shares of Service Co. International from $64.00 to $74.00 in a report on Monday, May 9th.

Insider Buying and Selling at Service Co. International

In other Service Co. International news, CEO Thomas L. Ryan sold 25,000 shares of Service Co. International stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $71.34, for a total value of $1,783,500.00. Following the completion of the transaction, the chief executive officer now directly owns 968,909 shares of the company’s stock, valued at approximately $69,121,968.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas L. Ryan sold 25,000 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $71.34, for a total transaction of $1,783,500.00. Following the completion of the transaction, the chief executive officer now directly owns 968,909 shares of the company’s stock, valued at $69,121,968.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 12,153 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $69.22, for a total value of $841,230.66. Following the transaction, the chief executive officer now directly owns 968,909 shares of the company’s stock, valued at $67,067,880.98. The disclosure for this sale can be found here. Insiders sold a total of 186,216 shares of company stock valued at $13,088,279 in the last three months. 5.10% of the stock is owned by corporate insiders.

About Service Co. International

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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.

See Also

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