Amundi Trims Stake in Service Corporation International $SCI

Key Points

• Amundi has reduced its stake in Service Corporation International (SCI) by 4.2%, now holding 405,193 shares valued at approximately $32.97 million.
• Several institutional investors have increased their positions in SCI, with Principal Financial Group Inc. raising its stake by 136.1%.
• Research firms have positive outlooks for SCI, with Oppenheimer and Raymond James both raising their price targets to $91.00 and $90.00 respectively.

Amundi lowered its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,193 shares of the company's stock after selling 17,701 shares during the quarter. Amundi owned 0.28% of Service Corporation International worth $32,975,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SCI. Assetmark Inc. grew its position in shares of Service Corporation International by 225.9% during the first quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. IFP Advisors Inc grew its position in shares of Service Corporation International by 87.2% during the first quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after purchasing an additional 326 shares in the last quarter. State of Wyoming purchased a new stake in shares of Service Corporation International during the first quarter worth about $63,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Service Corporation International during the first quarter worth about $85,000. Finally, Quarry LP lifted its holdings in shares of Service Corporation International by 127.3% in the first quarter. Quarry LP now owns 1,066 shares of the company's stock worth $85,000 after buying an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Buying and Selling at Service Corporation International

In related news, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $80.60, for a total transaction of $632,710.00. Following the sale, the director owned 36,088 shares of the company's stock, valued at $2,908,692.80. This represents a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas L. Ryan sold 17,520 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $81.91, for a total transaction of $1,435,063.20. Following the sale, the chief executive officer directly owned 982,333 shares in the company, valued at approximately $80,462,896.03. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,082 shares of company stock worth $20,117,233 in the last ninety days. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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 report on Monday, August 4th. Oppenheimer boosted their price target on shares of Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $90.25.

Service Corporation International Price Performance

Service Corporation International stock traded down $0.68 during mid-day trading on Friday, reaching $80.23. 159,371 shares of the company's stock traded hands, compared to its average volume of 1,129,343. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.90 and a beta of 0.90. The stock has a 50 day moving average of $79.35 and a two-hundred day moving average of $78.82. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.19. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37.

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

Service Corporation International Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Service Corporation International's dividend payout ratio is presently 34.69%.

Service Corporation International Profile

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.