Service Corporation International $SCI Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Service Corporation International (SCI) by 5%, selling 81,857 shares, while still holding approximately 1.1% of the company valued at $125.8 million.
• Director Tony Coelho and President Sumner J. Waring III each sold significant portions of their shares, resulting in a 17.87% and 15.97% decrease in their positions, respectively.
• Service Corporation International recently reported earnings of $0.88 per share for the quarter, exceeding estimates, with a quarterly revenue of $1.07 billion, up 3% year-over-year.

Northern Trust Corp lowered its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,568,527 shares of the company's stock after selling 81,857 shares during the period. Northern Trust Corp owned about 1.10% of Service Corporation International worth $125,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of Service Corporation International by 225.9% during the first quarter. Assetmark Inc. now owns 352 shares of the company's stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Quarry LP increased its position in shares of Service Corporation International by 359.8% during the fourth quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 367 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Service Corporation International during the fourth quarter worth about $53,000. IFP Advisors Inc increased its position in shares of Service Corporation International by 87.2% during the first quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $60,000 after purchasing an additional 326 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Service Corporation International during the first quarter worth about $85,000. Institutional investors and hedge funds own 85.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Tony Coelho sold 7,850 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $80.60, for a total transaction of $632,710.00. Following the sale, the director owned 36,088 shares of the company's stock, valued at $2,908,692.80. The trade was a 17.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Sumner J. Waring III sold 56,100 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $76.57, for a total value of $4,295,577.00. Following the sale, the president directly owned 295,192 shares in the company, valued at $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 90 days, insiders have sold 213,950 shares of company stock worth $17,001,787. Company insiders own 4.40% of the company's stock.

Service Corporation International Stock Performance

NYSE SCI opened at $81.4650 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. The business's 50 day moving average is $79.63 and its two-hundred day moving average is $78.70. Service Corporation International has a 12-month low of $71.75 and a 12-month high of $89.37. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.97 and a beta of 0.90.

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, topping the consensus estimate 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 company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm's quarterly 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. Research analysts expect that Service Corporation International will post 3.84 EPS for the current year.

Service Corporation International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, September 15th. This represents a $1.28 annualized dividend and a yield of 1.6%. Service Corporation International's payout ratio is presently 34.69%.

Analysts Set New Price Targets

SCI has been the topic of several recent research reports. UBS Group dropped their price target on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. 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 report on Monday, August 4th. Finally, Oppenheimer boosted their price target on Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Service Corporation International has an average rating of "Buy" and a consensus target price of $90.25.

About Service Corporation International

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.