Service Corporation International $SCI Shares Sold by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC reduced its stake in Service Corporation International (SCI) by 18.8%, selling 10,380 shares and holding 44,818 shares valued at approximately $3.59 million.
• Several institutional investors increased their positions in SCI, with Assetmark Inc. boosting its holdings by 225.9% in the first quarter.
• Analysts have set new price targets for SCI, with Oppenheimer raising its target from $86.00 to $91.00, indicating a positive outlook for the stock.

Southeast Asset Advisors LLC trimmed its stake in Service Corporation International (NYSE:SCI - Free Report) by 18.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 44,818 shares of the company's stock after selling 10,380 shares during the period. Southeast Asset Advisors LLC's holdings in Service Corporation International were worth $3,594,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SCI. Principal Financial Group Inc. lifted its position in shares of Service Corporation International by 136.1% during the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock worth $62,751,000 after purchasing an additional 451,068 shares in the last quarter. Millennium Management LLC lifted its holdings in Service Corporation International by 19,170.2% during the 4th quarter. Millennium Management LLC now owns 333,157 shares of the company's stock worth $26,593,000 after buying an additional 334,904 shares in the last quarter. Nuveen LLC purchased a new position in Service Corporation International in the 1st quarter valued at approximately $26,674,000. Northern Trust Corp grew its stake in shares of Service Corporation International by 24.9% in the fourth quarter. Northern Trust Corp now owns 1,650,384 shares of the company's stock worth $131,734,000 after acquiring an additional 328,686 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Service Corporation International by 3,061.2% during the first quarter. Jennison Associates LLC now owns 297,404 shares of the company's stock worth $23,852,000 after acquiring an additional 287,996 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SCI shares. Oppenheimer boosted their target price on Service Corporation International from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. UBS Group cut 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, Raymond James Financial reiterated 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Service Corporation International has an average rating of "Buy" and an average target price of $90.25.

Service Corporation International Stock Performance

SCI traded down $0.87 on Thursday, reaching $78.89. The company had a trading volume of 748,532 shares, compared to its average volume of 1,146,847. The stock has a 50-day moving average price of $79.73 and a 200-day moving average price of $78.77. The stock has a market capitalization of $11.06 billion, a PE ratio of 21.38, a P/E/G ratio of 1.93 and a beta of 0.90. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.19.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. As a group, research analysts forecast that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Announces Dividend

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

Insider Buying and Selling at Service Corporation International

In other news, 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 transaction, the president owned 295,192 shares of the company's stock, valued at approximately $22,602,851.44. The trade was a 15.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tony Coelho sold 7,850 shares of the company'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 value of $632,710.00. Following the sale, the director owned 36,088 shares of the company's stock, valued at $2,908,692.80. This trade represents a 17.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 252,073 shares of company stock valued at $20,116,529 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

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.