United Capital Financial Advisers LLC raised its holdings in shares of Service Co. International (NYSE:SCI) by 259.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,680 shares of the company’s stock after buying an additional 14,203 shares during the period. United Capital Financial Advisers LLC’s holdings in Service Co. International were worth $921,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in SCI. Cullen Frost Bankers Inc. purchased a new position in shares of Service Co. International during the second quarter valued at approximately $29,000. Lee Financial Co purchased a new position in shares of Service Co. International during the second quarter valued at approximately $33,000. Penserra Capital Management LLC purchased a new position in shares of Service Co. International during the first quarter valued at approximately $38,000. Advisory Services Network LLC boosted its position in shares of Service Co. International by 119.1% during the second quarter. Advisory Services Network LLC now owns 883 shares of the company’s stock valued at $41,000 after buying an additional 480 shares during the period. Finally, Vigilant Capital Management LLC purchased a new position in shares of Service Co. International during the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 88.02% of the company’s stock.
Shares of NYSE:SCI traded down $0.18 during trading hours on Friday, hitting $46.92. 640,797 shares of the company’s stock traded hands, compared to its average volume of 639,148. Service Co. International has a 1 year low of $37.52 and a 1 year high of $48.69. The business has a fifty day moving average price of $46.80 and a 200-day moving average price of $44.25. The firm has a market capitalization of $8.62 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 2.17 and a beta of 0.91. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.64 and a quick ratio of 0.60.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. Service Co. International’s payout ratio is 40.22%.
Service Co. International announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 14th that permits the company to repurchase $246.00 million in shares. This repurchase authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Separately, Raymond James boosted their target price on Service Co. International from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st.
In related news, CEO Thomas L. Ryan sold 28,836 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $47.30, for a total value of $1,363,942.80. Following the completion of the sale, the chief executive officer now owns 1,051,645 shares in the company, valued at $49,742,808.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric D. Tanzberger sold 230,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $47.06, for a total value of $10,837,918.00. Following the completion of the sale, the chief financial officer now owns 158,417 shares of the company’s stock, valued at approximately $7,455,104.02. The disclosure for this sale can be found here. Insiders sold 575,633 shares of company stock valued at $27,215,196 in the last quarter. 5.50% of the stock is owned by company insiders.
Service Co. International 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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