Principal Financial Group Inc. increased its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 136.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 782,429 shares of the company's stock after purchasing an additional 451,068 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Service Corporation International worth $62,751,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Service Corporation International in the 4th quarter valued at $25,000. Quarry LP increased its stake in shares of Service Corporation International by 359.8% during the 4th quarter. Quarry LP now owns 469 shares of the company's stock valued at $37,000 after acquiring an additional 367 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in shares of Service Corporation International during the 4th quarter worth $40,000. Resona Asset Management Co. Ltd. acquired a new stake in Service Corporation International during the 4th quarter worth approximately $40,000. Finally, GeoWealth Management LLC acquired a new stake in Service Corporation International in the fourth quarter valued at approximately $53,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Service Corporation International Stock Down 0.8%
Shares of Service Corporation International stock traded down $0.63 during trading on Wednesday, reaching $81.59. The stock had a trading volume of 241,630 shares, compared to its average volume of 1,059,363. The stock has a fifty day moving average price of $78.48 and a two-hundred day moving average price of $78.54. The company has a current ratio of 0.51, a quick ratio of 0.46 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $11.61 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.02 and a beta of 0.92. Service Corporation International has a 52 week low of $68.84 and a 52 week high of $89.37.
Service Corporation International (NYSE:SCI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. Service Corporation International had a net margin of 12.58% and a return on equity of 32.35%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Service Corporation International will post 3.84 EPS for the current fiscal year.
Service Corporation International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.32 dividend. 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 1.57%. Service Corporation International's dividend payout ratio (DPR) is presently 35.16%.
Wall Street Analyst Weigh In
A number of brokerages have commented on SCI. UBS Group decreased their target price 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. Wall Street Zen raised shares of Service Corporation International from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.25.
Read Our Latest Stock Report on SCI
Insider Activity at Service Corporation International
In other Service Corporation International news, Director Tony Coelho sold 5,400 shares of the firm'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 directly owned 43,938 shares of the company's stock, valued at approximately $3,336,651.72. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by insiders.
About Service Corporation International
(
Free Report)
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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