Swiss National Bank increased its position in Service Co. International (NYSE:SCI) by 2.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 337,300 shares of the company’s stock after buying an additional 7,500 shares during the period. Swiss National Bank’s holdings in Service Co. International were worth $15,779,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of SCI. Laurion Capital Management LP purchased a new position in shares of Service Co. International in the 1st quarter worth $40,210,000. State of Wisconsin Investment Board raised its position in shares of Service Co. International by 74.7% in the 1st quarter. State of Wisconsin Investment Board now owns 1,637,721 shares of the company’s stock worth $65,754,000 after buying an additional 700,261 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Service Co. International by 96.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 925,708 shares of the company’s stock worth $37,167,000 after buying an additional 453,708 shares during the period. Handelsbanken Fonder AB raised its position in shares of Service Co. International by 7.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 3,126,725 shares of the company’s stock worth $146,268,000 after buying an additional 204,177 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Service Co. International by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,728,263 shares of the company’s stock worth $69,579,000 after buying an additional 138,359 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SCI opened at $46.10 on Friday. The business’s 50-day moving average is $46.97 and its two-hundred day moving average is $43.81. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.64 and a quick ratio of 0.60. Service Co. International has a 12 month low of $37.52 and a 12 month high of $48.69. The firm has a market capitalization of $8.59 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, September 12th. Service Co. International’s dividend payout ratio (DPR) is presently 40.22%.
Service Co. International announced that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts recently weighed in on SCI shares. ValuEngine raised Service Co. International from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Raymond James increased their target price on Service Co. International from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.33.
In other news, VP Gregory T. Sangalis sold 71,400 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the vice president now directly owns 169,383 shares in the company, valued at $6,910,826.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas L. Ryan sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $43.83, for a total value of $4,383,000.00. Following the sale, the chief executive officer now owns 1,122,809 shares of the company’s stock, valued at $49,212,718.47. The disclosure for this sale can be found here. Insiders sold 762,722 shares of company stock worth $34,977,882 over the last three months. 5.50% of the stock is currently owned by corporate insiders.
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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