Icon Wealth Partners LLC bought a new position in Service Co. International (NYSE:SCI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 26,337 shares of the company’s stock, valued at approximately $983,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its stake in Service Co. International by 81.2% in the 4th quarter. Allianz Asset Management GmbH now owns 989,559 shares of the company’s stock worth $36,931,000 after purchasing an additional 443,533 shares in the last quarter. Amalgamated Bank lifted its stake in Service Co. International by 5.5% in the 4th quarter. Amalgamated Bank now owns 38,267 shares of the company’s stock worth $1,428,000 after purchasing an additional 1,994 shares in the last quarter. Standard Life Aberdeen plc lifted its stake in Service Co. International by 54.5% in the 4th quarter. Standard Life Aberdeen plc now owns 621,055 shares of the company’s stock worth $23,181,000 after purchasing an additional 219,165 shares in the last quarter. American International Group Inc. lifted its stake in Service Co. International by 1.4% in the 4th quarter. American International Group Inc. now owns 388,273 shares of the company’s stock worth $14,490,000 after purchasing an additional 5,238 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Service Co. International in the 4th quarter worth approximately $597,000. 82.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Tony Coelho sold 3,110 shares of Service Co. International stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $39.11, for a total transaction of $121,632.10. Following the sale, the director now owns 63,240 shares of the company’s stock, valued at approximately $2,473,316.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R L. Waltrip sold 84,679 shares of Service Co. International stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.90, for a total transaction of $3,209,334.10. Following the sale, the insider now directly owns 765,762 shares in the company, valued at approximately $29,022,379.80. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.
Service Co. International (NYSE:SCI) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.05. The firm had revenue of $812.73 million for the quarter, compared to analyst estimates of $823.66 million. Service Co. International had a net margin of 17.66% and a return on equity of 23.68%. During the same quarter in the previous year, the company earned $0.47 EPS. analysts forecast that Service Co. International will post 1.81 earnings per share for the current year.
Service Co. International announced that its board has authorized a stock buyback plan on Tuesday, February 13th that authorizes the company to repurchase $298.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, March 14th. This is a positive change from Service Co. International’s previous quarterly dividend of $0.15. Service Co. International’s payout ratio is presently 21.05%.
A number of research analysts have weighed in on SCI shares. Credit Suisse Group reissued an “outperform” rating and issued a $40.00 target price (up from $38.00) on shares of Service Co. International in a research note on Friday, November 3rd. Off Wall Street started coverage on shares of Service Co. International in a research note on Friday, December 15th. They issued a “sell” rating on the stock. Oppenheimer reissued a “buy” rating and issued a $42.00 target price on shares of Service Co. International in a research note on Thursday, January 18th. Deutsche Bank raised their target price on shares of Service Co. International from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Bank of America raised their target price on shares of Service Co. International from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.60.
WARNING: This article was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3230863/icon-wealth-partners-llc-takes-983000-position-in-service-co-international-sci.html.
Service Co. 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.
Want to see what other hedge funds are holding SCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Service Co. International (NYSE:SCI).
Receive News & Ratings for Service Co. International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Co. International and related companies with MarketBeat.com's FREE daily email newsletter.