Envestnet Asset Management Inc. Cuts Position in Service Corporation International (NYSE:SCI)

Envestnet Asset Management Inc. cut its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,879 shares of the company's stock after selling 24,826 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Service Corporation International worth $16,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCI. GAMMA Investing LLC raised its stake in shares of Service Corporation International by 20.3% during the 1st quarter. GAMMA Investing LLC now owns 2,539 shares of the company's stock worth $204,000 after buying an additional 429 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Service Corporation International in the 1st quarter worth approximately $869,000. 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 period. Teacher Retirement System of Texas grew its holdings in Service Corporation International by 12.6% during the 1st quarter. Teacher Retirement System of Texas now owns 31,019 shares of the company's stock valued at $2,488,000 after buying an additional 3,473 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Service Corporation International by 7.4% during the 1st quarter. Ritholtz Wealth Management now owns 9,966 shares of the company's stock valued at $799,000 after buying an additional 689 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Service Corporation International Stock Down 3.5%

Shares of Service Corporation International stock traded down $2.79 on Monday, hitting $77.04. 1,332,210 shares of the company traded hands, compared to its average volume of 1,064,531. The company has a 50-day moving average price of $79.09 and a 200 day moving average price of $78.54. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. Service Corporation International has a 12-month low of $70.46 and a 12-month high of $89.37. The company has a market cap of $10.97 billion, a PE ratio of 21.16, a PEG ratio of 1.97 and a beta of 0.92.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.05. Service Corporation International had a net margin of 12.58% and a return on equity of 32.35%. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The company's quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.66%. Service Corporation International's payout ratio is presently 35.16%.

Insiders Place Their Bets

In related news, Director Tony Coelho sold 5,400 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $75.94, for a total value of $410,076.00. Following the transaction, the director owned 43,938 shares in the company, valued at $3,336,651.72. The trade was a 10.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SCI shares. Wall Street Zen upgraded Service Corporation International from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. UBS Group cut their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $89.25.

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.