Rothschild Asset Management Inc. Acquires 307,915 Shares of Service Corporation International (SCI)
Rothschild Asset Management Inc. lifted its holdings in Service Corporation International (NYSE:SCI) by 58.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834,092 shares of the company’s stock after buying an additional 307,915 shares during the quarter. Rothschild Asset Management Inc. owned approximately 0.44% of Service Corporation International worth $28,776,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Service Corporation International by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after buying an additional 89 shares during the period. BB&T Corp boosted its stake in Service Corporation International by 1.7% in the 2nd quarter. BB&T Corp now owns 31,467 shares of the company’s stock worth $1,052,000 after purchasing an additional 529 shares in the last quarter. Comerica Bank boosted its stake in Service Corporation International by 0.4% in the 2nd quarter. Comerica Bank now owns 147,890 shares of the company’s stock worth $5,056,000 after purchasing an additional 544 shares in the last quarter. Arizona State Retirement System boosted its stake in Service Corporation International by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 79,300 shares of the company’s stock worth $2,653,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in Service Corporation International by 9.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 19,924 shares of the company’s stock worth $687,000 after purchasing an additional 1,700 shares in the last quarter. 85.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price target (up previously from $38.00) on shares of Service Corporation International in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of Service Corporation International from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research note on Saturday, October 28th. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $39.00 price target on shares of Service Corporation International in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $39.75.
In other news, CFO Eric D. Tanzberger sold 187,100 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $34.93, for a total transaction of $6,535,403.00. Following the completion of the sale, the chief financial officer now owns 150,217 shares of the company’s stock, valued at approximately $5,247,079.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory T. Sangalis sold 72,300 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $35.40, for a total transaction of $2,559,420.00. Following the sale, the vice president now directly owns 129,883 shares of the company’s stock, valued at approximately $4,597,858.20. The disclosure for this sale can be found here. Insiders have sold a total of 604,800 shares of company stock worth $21,109,153 in the last 90 days. Company insiders own 6.20% of the company’s stock.
Service Corporation International (NYSE SCI) traded up $0.26 on Wednesday, reaching $35.87. 613,500 shares of the company’s stock traded hands, compared to its average volume of 1,070,460. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 2.66. The company has a market cap of $6,675.81, a PE ratio of 23.27, a P/E/G ratio of 2.12 and a beta of 0.96. Service Corporation International has a 1-year low of $26.43 and a 1-year high of $36.56.
Service Corporation International (NYSE:SCI) last posted its earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The business had revenue of $731.30 million for the quarter, compared to analysts’ expectations of $735.62 million. Service Corporation International had a net margin of 11.83% and a return on equity of 24.85%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. research analysts forecast that Service Corporation International will post 1.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 14th. Service Corporation International’s dividend payout ratio is currently 31.58%.
Service Corporation International Company Profile
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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