Service Corporation International (NYSE:SCI) Shares Sold by Empower Advisory Group LLC

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 decreased its holdings in shares of Service Corporation International (NYSE:SCI - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCI. Tranquility Partners LLC boosted its stake in Service Corporation International by 1.7% in 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 last quarter. Proficio Capital Partners LLC grew its holdings in Service Corporation International by 3.6% in the first quarter. Proficio Capital Partners LLC now owns 3,859 shares of the company's stock valued at $309,000 after purchasing an additional 135 shares during the period. Fifth Third Bancorp increased its position in Service Corporation International by 12.2% during the first quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock worth $114,000 after purchasing an additional 155 shares during the last quarter. Brighton Jones LLC raised its stake in Service Corporation International by 3.1% during the first quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock worth $450,000 after purchasing an additional 167 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Service Corporation International by 3.4% during the first quarter. Avantax Advisory Services Inc. now owns 5,301 shares of the company's stock worth $425,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Buying and Selling

In other news, President Sumner J. Waring III sold 56,100 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the completion of the sale, the president directly owned 295,192 shares in the company, valued at $22,602,851.44. This trade represents a 15.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is owned by corporate insiders.

Service Corporation International Stock Up 1.4%

Service Corporation International stock traded up $1.14 during trading on Friday, reaching $80.52. 998,603 shares of the company's stock were exchanged, compared to its average volume of 1,177,786. The company's 50-day moving average is $79.15 and its two-hundred day moving average is $78.52. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. Service Corporation International has a 52-week low of $71.75 and a 52-week high of $89.37. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.92 and a beta of 0.90.

Service Corporation International (NYSE:SCI - Get Free Report) last posted its 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 business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. On average, analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

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

Analyst Upgrades and Downgrades

SCI has been the subject of a number of research analyst reports. Raymond James Financial restated an "outperform" rating and set a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a report on Monday. UBS Group dropped their price target on Service Corporation International from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.