Cresset Asset Management LLC Has $582,000 Stock Position in 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 trimmed its holdings in Service Corporation International (NYSE:SCI - Free Report) by 32.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SCI. Brighton Jones LLC acquired a new stake in Service Corporation International in the 4th quarter valued at about $435,000. NewEdge Advisors LLC lifted its stake in Service Corporation International by 70.3% during the fourth quarter. NewEdge Advisors LLC now owns 10,774 shares of the company's stock valued at $860,000 after buying an additional 4,448 shares in the last quarter. GeoWealth Management LLC purchased a new stake in Service Corporation International during the fourth quarter valued at about $53,000. First Trust Advisors LP purchased a new stake in Service Corporation International during the fourth quarter valued at about $4,299,000. Finally, Tower Research Capital LLC TRC lifted its stake in Service Corporation International by 380.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,804 shares of the company's stock valued at $783,000 after buying an additional 7,764 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Service Corporation International news, CEO Thomas L. Ryan sold 150,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 982,333 shares in the company, valued at $79,067,983.17. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Sumner J. Waring III sold 56,100 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $76.57, for a total value of $4,295,577.00. Following the transaction, the president owned 295,192 shares in the company, valued at approximately $22,602,851.44. This trade represents a 15.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 252,073 shares of company stock worth $20,116,529. 4.40% of the stock is currently owned by company insiders.

Service Corporation International Stock Down 1.4%

NYSE:SCI traded down $1.14 during mid-day trading on Thursday, reaching $78.62. The stock had a trading volume of 420,405 shares, compared to its average volume of 1,144,701. The business's 50 day moving average is $79.73 and its 200 day moving average is $78.77. Service Corporation International has a fifty-two week low of $71.75 and a fifty-two week high of $89.37. The stock has a market cap of $11.03 billion, a P/E ratio of 21.31, a PEG ratio of 1.93 and a beta of 0.90. 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 (NYSE:SCI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, sell-side analysts predict 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 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 is Monday, September 15th. Service Corporation International's dividend payout ratio (DPR) is 34.69%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SCI. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research note on Monday, August 4th. UBS Group reduced their price objective on shares of 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. Finally, Oppenheimer upped their price objective 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Service Corporation International presently has a consensus rating of "Buy" and an average target price of $90.25.

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.