Y Intercept Hong Kong Ltd Decreases Stake in Service Corporation International (NYSE:SCI)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in Service Corporation International by 71.4%, now holding 3,425 shares valued at approximately $275,000.
• Meanwhile, other institutional investors like FMR LLC and Arrowstreet Capital increased their holdings in SCI, with FMR raising its stake by 70.2%, now owning nearly 6.9 million shares.
• In the latest earnings report, Service Corporation International reported $0.96 EPS, exceeding estimates, and shows an annual revenue increase of 2.8% year-over-year.

Y Intercept Hong Kong Ltd trimmed its stake in Service Corporation International (NYSE:SCI - Free Report) by 71.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,425 shares of the company's stock after selling 8,547 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Service Corporation International were worth $275,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in shares of Service Corporation International by 12.5% in the 1st quarter. Allianz Asset Management GmbH now owns 74,821 shares of the company's stock worth $6,001,000 after purchasing an additional 8,329 shares during the period. Sargent Investment Group LLC bought a new position in shares of Service Corporation International in the first quarter worth about $203,000. IFP Advisors Inc boosted its stake in Service Corporation International by 87.2% in the 1st quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after purchasing an additional 326 shares during the period. Kestra Private Wealth Services LLC purchased a new position in shares of Service Corporation International during the first quarter valued at about $330,000. Finally, Jennison Associates LLC boosted its position in shares of Service Corporation International by 3,061.2% during the 1st quarter. Jennison Associates LLC now owns 297,404 shares of the company's stock valued at $23,852,000 after acquiring an additional 287,996 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SCI. Wall Street Zen raised Service Corporation International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. UBS Group cut their price target on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Service Corporation International has an average rating of "Moderate Buy" and an average price target of $89.25.

Insider Buying and Selling

In other news, Director Tony Coelho sold 5,400 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.94, for a total value of $410,076.00. Following the completion of the sale, the director directly owned 43,938 shares in the company, valued at $3,336,651.72. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.40% of the company's stock.

Service Corporation International Stock Down 0.6%

NYSE:SCI traded down $0.43 during mid-day trading on Wednesday, reaching $75.67. The company's stock had a trading volume of 1,753,895 shares, compared to its average volume of 937,080. The stock has a fifty day moving average of $79.04 and a 200-day moving average of $78.48. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 2.87. The firm has a market capitalization of $10.77 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. Service Corporation International has a 1 year low of $70.46 and a 1 year high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last released its 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 return on equity of 32.35% and a net margin of 12.58%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. Equities research analysts forecast that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, June 13th. Service Corporation International's payout ratio is presently 35.16%.

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.