T. Rowe Price Investment Management Inc. lowered its stake in shares of Service Corporation International (NYSE:SCI - Free Report) by 64.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,166,637 shares of the company's stock after selling 5,785,999 shares during the period. T. Rowe Price Investment Management Inc. owned 2.22% of Service Corporation International worth $253,965,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. 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 position in shares of Service Corporation International during the fourth quarter worth $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 position in shares of Service Corporation International during the first quarter worth $85,000. Hedge funds and other institutional investors own 85.53% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $90.00 price target (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. UBS Group reduced 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. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $90.50.
Check Out Our Latest Stock Analysis on SCI
Service Corporation International Price Performance
NYSE SCI opened at $80.9650 on Thursday. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.61 and a quick ratio of 0.56. The stock's fifty day moving average price is $79.55 and its 200 day moving average price is $78.65. Service Corporation International has a 1 year low of $71.75 and a 1 year high of $89.37. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.98 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, beating 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.79 EPS. 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, 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 will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given 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 dividend payout ratio (DPR) is currently 34.69%.
Insiders Place Their Bets
In other Service Corporation International news, President Sumner J. Waring III sold 56,100 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $76.57, for a total transaction of $4,295,577.00. Following the sale, the president directly owned 295,192 shares of the company's stock, valued at approximately $22,602,851.44. This trade represents a 15.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas L. Ryan sold 150,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $80.49, for a total value of $12,073,500.00. Following the sale, the chief executive officer directly owned 982,333 shares in the company, valued at $79,067,983.17. This represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,950 shares of company stock valued at $17,001,787. Company insiders own 4.40% of the company's stock.
About Service Corporation International
(
Free Report)
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.
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