Corient IA LLC Takes Position in Service Corporation International $SCI

Key Points

• Corient IA LLC has acquired a new stake in Service Corporation International (SCI), purchasing 5,000 shares valued at approximately $401,000.
• Analysts maintain a consensus rating of "Moderate Buy" for SCI, with an average target price of $90.50 after recent upgrades by firms like Raymond James.
• Service Corporation International announced a quarterly dividend of $0.32 per share, with a yield of 1.6%, to be paid on September 30th.

Corient IA LLC purchased a new position in Service Corporation International (NYSE:SCI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,000 shares of the company's stock, valued at approximately $401,000.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in Service Corporation International by 5.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,952,636 shares of the company's stock valued at $714,600,000 after acquiring an additional 492,822 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Service Corporation International by 24.9% in the 4th quarter. Northern Trust Corp now owns 1,650,384 shares of the company's stock worth $131,734,000 after acquiring an additional 328,686 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Service Corporation International by 0.9% in the 1st quarter. Deutsche Bank AG now owns 1,024,608 shares of the company's stock worth $82,174,000 after acquiring an additional 9,342 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Service Corporation International by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 931,194 shares of the company's stock worth $74,682,000 after acquiring an additional 10,972 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Service Corporation International by 136.1% in the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after acquiring an additional 451,068 shares during the last quarter. Institutional investors own 85.53% of the company's stock.

Insider Activity at Service Corporation International

In other news, President Sumner J. Waring III sold 56,100 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $76.57, for a total value of $4,295,577.00. Following the sale, the president directly owned 295,192 shares in the company, valued at approximately $22,602,851.44. This represents a 15.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas L. Ryan sold 150,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $80.49, for a total value of $12,073,500.00. Following the completion of the sale, the chief executive officer owned 982,333 shares in the company, valued at approximately $79,067,983.17. This represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,950 shares of company stock worth $17,001,787 over the last three months. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SCI shares. UBS Group decreased their target price on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (up from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Finally, Oppenheimer lifted their price target on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a report on Thursday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $90.25.

Service Corporation International Stock Performance

SCI traded up $0.2350 on Friday, hitting $81.4650. 771,902 shares of the stock traded hands, compared to its average volume of 1,151,896. Service Corporation International has a 52 week low of $71.75 and a 52 week high of $89.37. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. The firm has a market capitalization of $11.42 billion, a PE ratio of 22.08, a P/E/G ratio of 1.97 and a beta of 0.90. The business has a fifty day moving average price of $79.57 and a two-hundred day moving average price of $78.68.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The company's quarterly 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 predict that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Announces Dividend

The company 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. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 15th. Service Corporation International's payout ratio is currently 34.69%.

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.