Cresset Asset Management LLC Sells 3,485 Shares of Service Corporation International $SCI

Key Points

• Cresset Asset Management LLC reduced its stake in Service Corporation International by 32.4%, selling 3,485 shares, and now holds a total of 7,261 shares valued at $582,000.
• Service Corporation International reported a quarterly earnings per share (EPS) of $0.88, exceeding estimates, and set its FY 2025 guidance at 3.700-4.00 EPS, with a consensus price target of $90.25.
• The company declared a dividend of $0.32 per share, representing an annual yield of 1.6%, to be paid on September 30th to shareholders of record.

Cresset Asset Management LLC lowered its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 32.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,261 shares of the company's stock after selling 3,485 shares during the quarter. Cresset Asset Management LLC's holdings in Service Corporation International were worth $582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tranquility Partners LLC boosted its stake in shares of Service Corporation International by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 8,060 shares of the company's stock valued at $646,000 after purchasing an additional 134 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Service Corporation International by 3.6% in the 1st quarter. Proficio Capital Partners LLC now owns 3,859 shares of the company's stock valued at $309,000 after purchasing an additional 135 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Service Corporation International by 12.2% in the 1st quarter. Fifth Third Bancorp now owns 1,426 shares of the company's stock valued at $114,000 after purchasing an additional 155 shares in the last quarter. Brighton Jones LLC boosted its stake 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 valued at $450,000 after purchasing an additional 167 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Service Corporation International by 3.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,301 shares of the company's stock valued at $425,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 85.53% of the company's stock.

Insider Transactions at Service Corporation International

In other news, Director Ellen Ochoa sold 2,514 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $79.41, for a total value of $199,636.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Ryan sold 17,520 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $81.91, for a total value of $1,435,063.20. Following the completion of the sale, the chief executive officer directly owned 982,333 shares of the company's stock, valued at approximately $80,462,896.03. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 252,073 shares of company stock valued at $20,116,529. 4.40% of the stock is owned by company insiders.

Service Corporation International Trading Up 0.4%

NYSE:SCI traded up $0.33 on Friday, hitting $79.26. 947,790 shares of the stock were exchanged, compared to its average volume of 888,705. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.92 and a beta of 0.90. Service Corporation International has a 52 week low of $71.75 and a 52 week high of $89.37. 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 company's 50-day moving average price is $79.76 and its 200 day moving average price is $78.80.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.05 billion. Service Corporation International had a return on equity of 32.84% and a net margin of 12.60%.The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Service Corporation International's payout ratio is currently 34.69%.

Analyst Upgrades and Downgrades

SCI has been the topic of several recent analyst reports. Raymond James Financial restated an "outperform" rating and issued a $90.00 target price (up previously from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. UBS Group reduced their target price on shares of Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Oppenheimer boosted their target price on shares of Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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.