Comerica Bank Sells 17,716 Shares of Service Corporation International $SCI

Key Points

• Comerica Bank decreased its holdings in Service Corporation International (SCI) by 26.9%, selling 17,716 shares, reducing its ownership to 48,165 shares valued at approximately $3.86 million.
• The company recently reported earnings of $0.88 per share for the last quarter, exceeding analysts' expectations and showing a revenue increase of 3.0% year-over-year.
• Service Corporation International declared a $0.32 quarterly dividend, payable on September 30, 2023, with a dividend yield of 1.6% and a payout ratio of 34.69%.

Comerica Bank decreased its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 48,165 shares of the company's stock after selling 17,716 shares during the quarter. Comerica Bank's holdings in Service Corporation International were worth $3,863,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Assetmark Inc. raised its position in Service Corporation International by 225.9% in the 1st quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Quarry LP increased its holdings in shares of Service Corporation International by 359.8% in the fourth quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 367 shares in the last quarter. IFP Advisors Inc raised its position in Service Corporation International by 87.2% in the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after purchasing an additional 326 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Service Corporation International during the 1st quarter worth $85,000. Finally, Fifth Third Bancorp lifted 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 worth $114,000 after buying an additional 155 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Insider Activity at Service Corporation International

In other 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 completion of the transaction, the director directly owned 36,088 shares in the company, valued at approximately $2,908,692.80. This represents a 17.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen Ochoa sold 2,514 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $79.41, for a total value of $199,636.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,073 shares of company stock worth $20,116,529. Corporate insiders own 4.40% of the company's stock.

Service Corporation International Stock Performance

Shares of SCI stock traded up $0.19 on Thursday, reaching $78.21. The stock had a trading volume of 376,104 shares, compared to its average volume of 1,135,811. The firm's 50-day moving average is $79.68 and its two-hundred day moving average is $78.80. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 1.93 and a beta of 0.90. 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 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $0.79 earnings per share. Service Corporation International's revenue was up 3.0% compared to the same quarter last year. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. On average, research analysts expect that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.28 annualized dividend and a yield of 1.6%. Service Corporation International's dividend payout ratio (DPR) is 34.69%.

Wall Street Analyst Weigh In

SCI has been the subject of a number of recent research reports. Oppenheimer boosted their target price on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Raymond James Financial reiterated an "outperform" rating and issued a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $90.25.

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.