Insider Selling: Service Corporation International (NYSE:SCI) CEO Sells 150,000 Shares of Stock

Key Points

• CEO Thomas L. Ryan of Service Corporation International sold 150,000 shares at an average price of $80.49, totaling approximately $12.07 million, reducing his ownership by 13.25%.
• The company reported an earnings per share (EPS) of $0.88 for the last quarter, exceeding expectations and representing a 3.0% year-over-year revenue increase.
• A quarterly dividend of $0.32 is set to be paid on September 30th, with a yield of 1.6% and a payout ratio of 34.69%.

Service Corporation International (NYSE:SCI - Get Free Report) CEO Thomas L. Ryan sold 150,000 shares of Service Corporation International stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 982,333 shares of the company's stock, 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 legal filing with the SEC, which is accessible through the SEC website.

Service Corporation International Stock Performance

Service Corporation International stock traded up $0.02 on Friday, hitting $80.69. The company's stock had a trading volume of 562,197 shares, compared to its average volume of 1,178,363. 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 has a one year low of $71.75 and a one year high of $89.37. The firm has a market cap of $11.32 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company has a fifty day moving average price of $79.46 and a 200-day moving average price of $78.60.

Service Corporation International (NYSE:SCI - Get Free Report) last posted 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 business had revenue of $1.07 billion for 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 quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

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

Hedge Funds Weigh In On Service Corporation International

A number of hedge funds have recently made changes to their positions in SCI. Brighton Jones LLC bought a new position in shares of Service Corporation International in the 4th quarter valued at about $435,000. Bank of Montreal Can boosted its stake in Service Corporation International by 7.3% in the fourth quarter. Bank of Montreal Can now owns 29,594 shares of the company's stock worth $2,362,000 after buying an additional 2,024 shares in the last quarter. Invesco Ltd. grew its position in shares of Service Corporation International by 4.2% in the 4th quarter. Invesco Ltd. now owns 260,267 shares of the company's stock worth $20,775,000 after buying an additional 10,521 shares during the period. Sterling Capital Management LLC grew its stake in shares of Service Corporation International by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 8,454 shares of the company's stock valued at $675,000 after purchasing an additional 3,016 shares during the period. Finally, Seeds Investor LLC raised its holdings in shares of Service Corporation International by 9.4% during the 4th quarter. Seeds Investor LLC now owns 2,875 shares of the company's stock worth $229,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCI. UBS Group lowered their target price 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. Raymond James Financial reissued 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Service Corporation International presently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

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.