Service Corporation International (NYSE:SCI) Declares $0.32 Quarterly Dividend

Key Points

• Service Corporation International (SCI) declared a quarterly dividend of $0.32 per share, payable on September 30th to stockholders of record by September 15th, resulting in an annualized dividend yield of 1.6%.
• The company reported earnings of $0.88 per share for the last quarter, exceeding analysts' expectations, and achieving a revenue of $1.07 billion, which is a 3% year-over-year increase.
• Institutional investors hold 85.53% of SHARES in Service Corporation International, with significant stake increases from FMR LLC and Principal Financial Group in recent quarters.

Service Corporation International (NYSE:SCI - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.32 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%.

Service Corporation International has a payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Service Corporation International to earn $4.21 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 30.4%.

Service Corporation International Stock Up 0.4%

NYSE SCI traded up $0.30 during mid-day trading on Wednesday, hitting $79.07. The company's stock had a trading volume of 832,966 shares, compared to its average volume of 1,181,019. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.91 and a beta of 0.90. The company's 50 day simple moving average is $79.07 and its 200 day simple moving average is $78.50. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. Service Corporation International has a twelve month low of $71.75 and a twelve month high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.04. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Analysts anticipate that Service Corporation International will post 3.84 earnings per share for the current year.

Insider Activity

In other Service Corporation International news, Director Tony Coelho sold 5,400 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.94, for a total transaction of $410,076.00. Following the transaction, the director directly owned 43,938 shares in the company, valued at $3,336,651.72. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $4,295,577.00. Following the completion of the transaction, the president directly owned 295,192 shares of the company's stock, 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. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in Service Corporation International by 70.2% during the fourth quarter. FMR LLC now owns 6,901,982 shares of the company's stock worth $550,916,000 after purchasing an additional 2,846,159 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Service Corporation International by 5.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,952,636 shares of the company's stock valued at $714,600,000 after acquiring an additional 492,822 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Service Corporation International by 136.1% in the 1st quarter. Principal Financial Group Inc. now owns 782,429 shares of the company's stock valued at $62,751,000 after purchasing an additional 451,068 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Service Corporation International by 19,170.2% in the 4th quarter. Millennium Management LLC now owns 333,157 shares of the company's stock valued at $26,593,000 after acquiring an additional 334,904 shares during the period. Finally, Nuveen LLC acquired a new position in Service Corporation International in the first quarter valued at $26,674,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

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.

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