Oppenheimer Asset Management Inc. Purchases 1,213 Shares of Service Co. International (NYSE:SCI)

Oppenheimer Asset Management Inc. lifted its position in Service Co. International (NYSE:SCI) by 42.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,071 shares of the company’s stock after buying an additional 1,213 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Service Co. International were worth $190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCI. Dimensional Fund Advisors LP raised its holdings in shares of Service Co. International by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,695,469 shares of the company’s stock valued at $68,257,000 after purchasing an additional 62,113 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Service Co. International by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,728,263 shares of the company’s stock valued at $69,579,000 after purchasing an additional 138,359 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Service Co. International by 90.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,376 shares of the company’s stock valued at $216,000 after purchasing an additional 2,548 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Service Co. International by 95.1% during the first quarter. SG Americas Securities LLC now owns 15,041 shares of the company’s stock valued at $604,000 after purchasing an additional 7,332 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Service Co. International by 6.9% during the first quarter. Janus Henderson Group PLC now owns 322,791 shares of the company’s stock valued at $12,960,000 after purchasing an additional 20,711 shares during the last quarter. Hedge funds and other institutional investors own 88.05% of the company’s stock.

In other Service Co. International news, CEO Thomas L. Ryan sold 108,099 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $47.31, for a total transaction of $5,114,163.69. Following the completion of the sale, the chief executive officer now directly owns 1,051,645 shares of the company’s stock, valued at $49,753,324.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Sumner J. Waring III sold 86,200 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $48.02, for a total transaction of $4,139,324.00. Following the sale, the chief operating officer now directly owns 412,340 shares of the company’s stock, valued at $19,800,566.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 512,935 shares of company stock valued at $24,242,207. 5.50% of the stock is owned by corporate insiders.

Separately, Raymond James boosted their price objective on shares of Service Co. International from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.33.

Shares of SCI traded up $0.84 during mid-day trading on Friday, hitting $48.23. 17,700 shares of the company traded hands, compared to its average volume of 667,356. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a 50-day moving average price of $46.69 and a two-hundred day moving average price of $44.02. Service Co. International has a 1 year low of $37.52 and a 1 year high of $48.69. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.13 and a beta of 0.91.

Service Co. International (NYSE:SCI) last announced its earnings results on Monday, July 29th. The company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. Service Co. International had a net margin of 12.88% and a return on equity of 20.55%. The business had revenue of $812.57 million during the quarter, compared to analysts’ expectations of $811.01 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Service Co. International will post 1.95 EPS for the current year.

Service Co. International announced that its Board of Directors has approved a share buyback plan on Wednesday, August 14th that allows the company to buyback $246.00 million in shares. This buyback authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. Service Co. International’s dividend payout ratio is currently 40.22%.

Service Co. International Company Profile

Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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