Allianz Asset Management GmbH Boosts Stake in Service Corporation International (NYSE:SCI)

Key Points

• Allianz Asset Management GmbH increased its stake in Service Corporation International by 12.5% during Q1, holding 74,821 shares valued at approximately $6 million.
• Institutional investors collectively own 85.53% of Service Corporation International, with several firms significantly boosting their positions in Q4, including FMR LLC, which increased its stake by 70.2%.
• Service Corporation International reported $0.96 EPS for the quarter, exceeding estimates, and announced a quarterly dividend of $0.32, reflecting an annualized yield of 1.68%.

Allianz Asset Management GmbH grew its stake in Service Corporation International (NYSE:SCI - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,821 shares of the company's stock after purchasing an additional 8,329 shares during the period. Allianz Asset Management GmbH owned approximately 0.05% of Service Corporation International worth $6,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SCI. Tranquility Partners LLC increased its position in shares of Service Corporation International by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock valued at $646,000 after buying an additional 134 shares in the last quarter. Fifth Third Bancorp raised its holdings in 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 acquiring an additional 155 shares during the period. Brighton Jones LLC grew its position in Service Corporation International by 3.1% in the first quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock worth $450,000 after acquiring an additional 167 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Service Corporation International by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,729 shares of the company's stock worth $298,000 after acquiring an additional 183 shares in the last quarter. Finally, BNP Paribas grew its position in Service Corporation International by 1.1% in the fourth quarter. BNP Paribas now owns 20,182 shares of the company's stock worth $1,609,000 after acquiring an additional 227 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Service Corporation International Price Performance

Shares of Service Corporation International stock traded up $1.99 on Thursday, hitting $77.62. The company's stock had a trading volume of 665,939 shares, compared to its average volume of 1,172,992. The company has a market capitalization of $11.05 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. The firm has a fifty day moving average price of $79.00 and a 200-day moving average price of $78.46. Service Corporation International has a 52-week low of $70.46 and a 52-week high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Service Corporation International will post 3.84 earnings per share for the current fiscal year.

Service Corporation International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.65%. Service Corporation International's dividend payout ratio (DPR) is currently 35.16%.

Insider Activity at Service Corporation International

In related news, Director Tony Coelho sold 5,400 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.94, for a total transaction of $410,076.00. Following the sale, the director owned 43,938 shares in the company, valued at $3,336,651.72. This represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

SCI has been the topic of a number of recent research reports. UBS Group cut their price objective on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wall Street Zen raised shares of Service Corporation International from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Service Corporation International has an average rating of "Moderate Buy" and an average price target of $89.25.

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.