Mitsubishi UFJ Asset Management UK Ltd. Buys 11,000 Shares of Service Corporation International (NYSE:SCI)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Service Corporation International by 110.0%, acquiring an additional 11,000 shares, bringing its total holdings to 21,000 shares valued at approximately $1.68 million.
• Service Corporation International reported a quarterly earnings per share (EPS) of $0.88, surpassing expectations, and a revenue of $1.07 billion, marking a 3.0% year-over-year increase.
• Insider transactions included CEO Thomas L. Ryan selling 150,000 shares for over $12 million, reflecting a 13.25% decline in his ownership stake.

Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in Service Corporation International (NYSE:SCI - Free Report) by 110.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,000 shares of the company's stock after buying an additional 11,000 shares during the quarter. Service Corporation International comprises 0.9% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 26th largest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Service Corporation International were worth $1,684,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SCI. Assetmark Inc. boosted its position in shares of Service Corporation International by 225.9% during the first quarter. Assetmark Inc. now owns 352 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Quarry LP boosted its position in shares of Service Corporation International by 359.8% during the fourth quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 367 shares in the last quarter. GeoWealth Management LLC bought a new stake in shares of Service Corporation International during the fourth quarter valued at approximately $53,000. IFP Advisors Inc boosted its position in shares of Service Corporation International by 87.2% during the first quarter. IFP Advisors Inc now owns 700 shares of the company's stock valued at $60,000 after purchasing an additional 326 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Service Corporation International during the first quarter valued at $85,000. 85.53% of the stock is currently owned by institutional investors.

Service Corporation International Stock Performance

Shares of SCI opened at $82.05 on Thursday. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.61 and a quick ratio of 0.56. Service Corporation International has a one year low of $71.75 and a one year high of $89.37. The firm has a market capitalization of $11.51 billion, a P/E ratio of 22.24, a PEG ratio of 1.96 and a beta of 0.90. The business has a fifty day moving average of $79.38 and a 200 day moving average of $78.62.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping 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 company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. Service Corporation International's revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Service Corporation International will post 3.84 EPS 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. 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 annualized dividend and a dividend yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Raymond James Financial reiterated an "outperform" rating and set a $90.00 price objective (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. UBS Group lowered their price objective 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Service Corporation International presently has a consensus rating of "Moderate Buy" and an average target price of $90.50.

Insider Buying and Selling

In other Service Corporation International news, CEO Thomas L. Ryan sold 150,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $80.49, for a total transaction of $12,073,500.00. Following the completion of the sale, the chief executive officer owned 982,333 shares of the company's stock, valued at approximately $79,067,983.17. The trade was a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $80.60, for a total value of $632,710.00. Following the completion of the sale, the director owned 36,088 shares of the company's stock, valued at approximately $2,908,692.80. The trade was a 17.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,950 shares of company stock valued at $17,001,787 over the last 90 days. Company insiders own 4.40% of the company's stock.

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.

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