Service Corporation International $SCI Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its position in Service Corporation International by 23.2% during Q1, now holding 200,307 shares valued at approximately $16 million.
• Several other institutional investors also significantly increased their stakes, with holdings by Assetmark Inc. growing by 225.9% and Quarry LP by 359.8% in recent quarters.
• The company announced a quarterly dividend of $0.32, resulting in an annualized yield of 1.6% and a dividend payout ratio of 34.69%.

Raymond James Financial Inc. grew its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,307 shares of the company's stock after purchasing an additional 37,760 shares during the period. Raymond James Financial Inc. owned approximately 0.14% of Service Corporation International worth $16,065,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Service Corporation International by 20.3% during the first quarter. GAMMA Investing LLC now owns 2,539 shares of the company's stock valued at $204,000 after purchasing an additional 429 shares during the period. SG Americas Securities LLC bought a new stake in shares of Service Corporation International in the first quarter worth $869,000. Principal Financial Group Inc. increased its stake in shares of Service Corporation International by 136.1% in the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after buying an additional 451,068 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Service Corporation International by 12.6% in the first quarter. Teacher Retirement System of Texas now owns 31,019 shares of the company's stock worth $2,488,000 after buying an additional 3,473 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Service Corporation International by 7.4% in the first quarter. Ritholtz Wealth Management now owns 9,966 shares of the company's stock worth $799,000 after buying an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Insider Activity at Service Corporation International

In other Service Corporation International news, Director Tony Coelho sold 7,850 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $80.60, for a total value of $632,710.00. Following the completion of the sale, the director directly owned 36,088 shares of the company's stock, valued at approximately $2,908,692.80. This represents a 17.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen Ochoa sold 2,514 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total transaction of $199,636.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,073 shares of company stock worth $20,116,529. 4.40% of the stock is owned by company insiders.

Service Corporation International Stock Performance

Shares of SCI traded down $1.43 during midday trading on Tuesday, hitting $77.82. 305,661 shares of the stock traded hands, compared to its average volume of 1,140,434. Service Corporation International has a 1-year low of $71.75 and a 1-year high of $89.37. The firm has a market capitalization of $10.91 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.93 and a beta of 0.90. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. The business's 50 day moving average price is $79.75 and its two-hundred day moving average price is $78.82.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. Equities research 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 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 yield of 1.6%. Service Corporation International's dividend payout ratio is presently 34.69%.

Wall Street Analysts Forecast Growth

SCI has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on shares of Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Raymond James Financial restated an "outperform" rating and issued a $90.00 price target (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $90.25.

Service Corporation International Company 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.