Empower Advisory Group LLC Cuts Stock Holdings in Service Corporation International (NYSE:SCI)

Key Points

• Empower Advisory Group LLC reduced its stake in Service Corporation International by 3.5% in the first quarter, holding approximately 926,706 shares valued at $74.32 million.
• Institutional ownership in Service Corporation International stands at 85.53%, with notable increases from T. Rowe Price and FMR LLC, which raised their holdings by 5.8% and 70.2%, respectively.
• Service Corporation International exceeded analysts' expectations by reporting $0.88 EPS for the last quarter, along with a revenue increase of 3% year-over-year, bringing in $1.07 billion.

Empower Advisory Group LLC lowered its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 926,706 shares of the company's stock after selling 33,117 shares during the quarter. Empower Advisory Group LLC owned about 0.65% of Service Corporation International worth $74,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCI. Brighton Jones LLC acquired a new stake in Service Corporation International during the fourth quarter worth about $435,000. American Century Companies Inc. grew its holdings in Service Corporation International by 2.1% during the fourth quarter. American Century Companies Inc. now owns 34,464 shares of the company's stock worth $2,751,000 after acquiring an additional 694 shares during the period. JPMorgan Chase & Co. grew its holdings in Service Corporation International by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 378,501 shares of the company's stock worth $30,212,000 after acquiring an additional 8,256 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Service Corporation International during the fourth quarter worth about $250,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Service Corporation International during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Insiders Place Their Bets

In related news, President Sumner J. Waring III sold 56,100 shares of the company's stock in a transaction dated 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 completion of the transaction, the president owned 295,192 shares of the company's stock, 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 can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Service Corporation International Price Performance

NYSE SCI traded up $1.14 during trading hours on Friday, reaching $80.52. The company's stock had a trading volume of 998,603 shares, compared to its average volume of 1,184,334. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.93 and a beta of 0.90. Service Corporation International has a 1-year low of $71.75 and a 1-year high of $89.37. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.61 and a quick ratio of 0.56. The company's 50-day moving average is $79.20 and its two-hundred day moving average is $78.54.

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 for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%. Service Corporation International's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, equities analysts predict that Service Corporation International will post 3.84 EPS 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 issued a $0.32 dividend. 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%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SCI shares. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 target price (up from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. UBS Group dropped 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.50.

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.