Service Co. International (NYSE:SCI) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its position in shares of Service Co. International (NYSE:SCIGet Rating) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,168,765 shares of the company’s stock after selling 89,081 shares during the quarter. Alliancebernstein L.P. owned about 2.49% of Service Co. International worth $295,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCI. Covestor Ltd bought a new position in shares of Service Co. International during the fourth quarter valued at approximately $26,000. Charter Oak Capital Management LLC bought a new position in shares of Service Co. International during the fourth quarter valued at approximately $33,000. Cassady Schiller Wealth Management LLC bought a new position in shares of Service Co. International during the fourth quarter valued at approximately $35,000. First Command Financial Services Inc. bought a new position in shares of Service Co. International during the fourth quarter valued at approximately $39,000. Finally, Sageworth Trust Co of South Dakota bought a new position in shares of Service Co. International during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 84.03% of the company’s stock.

Several equities analysts have recently commented on SCI shares. Credit Suisse Group upped their target price on Service Co. International from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, February 16th. StockNews.com assumed coverage on Service Co. International in a report on Thursday, March 31st. They issued a “hold” rating for the company. Oppenheimer increased their price objective on Service Co. International from $64.00 to $74.00 in a report on Monday, May 9th. Finally, Zacks Investment Research lowered Service Co. International from a “strong-buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Service Co. International presently has a consensus rating of “Buy” and a consensus target price of $76.00.

In other news, VP Gregory T. Sangalis sold 22,800 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $69.29, for a total transaction of $1,579,812.00. Following the completion of the sale, the vice president now owns 128,181 shares in the company, valued at approximately $8,881,661.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 12,153 shares of the stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $69.22, for a total value of $841,230.66. Following the sale, the chief executive officer now owns 968,909 shares of the company’s stock, valued at approximately $67,067,880.98. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.

Shares of SCI stock opened at $70.18 on Friday. Service Co. International has a 12-month low of $51.53 and a 12-month high of $72.07. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.30 and a beta of 0.73. The business has a 50 day simple moving average of $67.83 and a 200 day simple moving average of $65.94. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.59 and a quick ratio of 0.55.

Service Co. International (NYSE:SCIGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.36. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1 billion. Service Co. International had a return on equity of 40.43% and a net margin of 19.00%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $1.32 EPS. On average, equities analysts anticipate that Service Co. International will post 3.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.52 per share. This is a positive change from Service Co. International’s previous quarterly dividend of $0.25. This represents a $2.08 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, June 14th. Service Co. International’s dividend payout ratio (DPR) is presently 21.14%.

Service Co. International announced that its board has initiated a share buyback plan on Wednesday, May 4th that allows the company to repurchase $394.00 million in shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Service Co. International Profile (Get Rating)

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.

See Also

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

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