Algert Global LLC Acquires Shares of 6,400 Service Corporation International $SCI

Key Points

• Algert Global LLC has acquired a new stake in Service Corporation International (SCI), purchasing 6,400 shares valued at approximately $513,000.
• Service Corporation International reported $1.07 billion in revenue for the last quarter, exceeding analysts' estimates, while earnings per share came in at $0.88, beating expectations of $0.84.
• The company has declared a quarterly dividend of $0.32 per share, representing an annualized dividend of $1.28 and a dividend yield of 1.6%, with the payment scheduled for September 30th.

Algert Global LLC purchased a new stake in shares of Service Corporation International (NYSE:SCI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,400 shares of the company's stock, valued at approximately $513,000.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of Service Corporation International by 225.9% during the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after buying an additional 244 shares during the period. Quarry LP raised its position in shares of Service Corporation International by 359.8% during the 4th quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after buying an additional 367 shares during the period. IFP Advisors Inc raised its position in shares of Service Corporation International by 87.2% during the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock valued at $60,000 after buying an additional 326 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Service Corporation International during the 1st quarter valued at approximately $85,000. Finally, Fifth Third Bancorp raised its position in shares of Service Corporation International by 12.2% during the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock valued at $114,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Service Corporation International Stock Down 1.1%

Shares of Service Corporation International stock traded down $0.87 during trading hours on Thursday, reaching $78.89. 748,533 shares of the company were exchanged, compared to its average volume of 1,146,847. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The stock's fifty day moving average is $79.73 and its 200 day moving average is $78.77. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a market cap of $11.06 billion, a PE ratio of 21.38, a PEG ratio of 1.93 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, equities research analysts forecast that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.

Insider Activity

In related news, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the completion of the transaction, the president owned 295,192 shares in the company, valued at approximately $22,602,851.44. The trade was a 15.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ellen Ochoa sold 2,514 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $79.41, for a total transaction of $199,636.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,073 shares of company stock worth $20,116,529. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCI has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Raymond James Financial reissued an "outperform" rating and issued a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Finally, UBS Group cut their target price on 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. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $90.25.

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.