Jennison Associates LLC Grows Holdings in Service Corporation International (NYSE:SCI)

Jennison Associates LLC raised its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 3,061.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,404 shares of the company's stock after acquiring an additional 287,996 shares during the period. Jennison Associates LLC owned about 0.21% of Service Corporation International worth $23,852,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Tranquility Partners LLC lifted its holdings in Service Corporation International by 1.7% during the first quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock worth $646,000 after acquiring an additional 134 shares during the period. Fifth Third Bancorp raised its stake 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 during the period. Brighton Jones LLC boosted its holdings in shares of Service Corporation International by 3.1% in the 1st quarter. Brighton Jones LLC now owns 5,615 shares of the company's stock worth $450,000 after buying an additional 167 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Service Corporation International by 5.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 3,729 shares of the company's stock valued at $298,000 after buying an additional 183 shares during the period. Finally, BNP Paribas increased its holdings in Service Corporation International by 1.1% during the fourth quarter. BNP Paribas now owns 20,182 shares of the company's stock worth $1,609,000 after buying an additional 227 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Tony Coelho sold 5,400 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $3,336,651.72. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.

Service Corporation International Price Performance

NYSE SCI traded down $0.60 during trading hours on Thursday, hitting $76.19. The company had a trading volume of 1,716,685 shares, compared to its average volume of 893,898. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.46 and a current ratio of 0.51. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.89 and a beta of 0.92. Service Corporation International has a 52 week low of $70.46 and a 52 week high of $89.37. The firm has a 50 day simple moving average of $79.16 and a 200 day simple moving average of $78.52.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts expect that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, June 13th. Service Corporation International's dividend payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

SCI has been the subject of several research analyst reports. UBS Group decreased their price target on shares of 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. Wall Street Zen upgraded shares of Service Corporation International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.