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

Several other large investors have also recently added to or reduced their stakes in the company. Tranquility Partners LLC increased its position in Service Corporation International by 1.7% during the 1st quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock worth $646,000 after buying an additional 134 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Service Corporation International by 3.6% during the 1st quarter. Proficio Capital Partners LLC now owns 3,859 shares of the company's stock worth $309,000 after purchasing an additional 135 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 worth $114,000 after purchasing an additional 155 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Service Corporation International by 3.1% during the 1st quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock worth $450,000 after purchasing an additional 167 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Service Corporation International by 3.4% in the first quarter. Avantax Advisory Services Inc. now owns 5,301 shares of the company's stock valued at $425,000 after buying an additional 174 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Service Corporation International Trading Down 1.2%

SCI stock traded down $0.98 during mid-day trading on Friday, reaching $77.64. The company's stock had a trading volume of 291,536 shares, compared to its average volume of 1,133,122. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. The business's 50 day moving average price is $79.63 and its 200 day moving average price is $78.81. The company has a current ratio of 0.61, a quick ratio of 0.56 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 issued its earnings results 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. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. On average, equities research analysts predict that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Announces Dividend

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

Insiders Place Their Bets

In other Service Corporation International news, Director Tony Coelho sold 7,850 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $80.60, for a total value of $632,710.00. Following the completion of the sale, the director owned 36,088 shares of the company's stock, valued at approximately $2,908,692.80. This trade represents a 17.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $76.57, for a total value of $4,295,577.00. Following the completion of the sale, the president directly owned 295,192 shares of the company's stock, valued at $22,602,851.44. This trade represents a 15.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,073 shares of company stock valued at $20,116,529. Company insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. Oppenheimer raised their price objective on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $90.25.

Service Corporation International Company 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.