Service Co. International (NYSE:SCI) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co increased its position in Service Co. International (NYSE:SCI) by 26.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,236 shares of the company’s stock after purchasing an additional 25,717 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Service Co. International worth $9,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SCI. Norges Bank acquired a new position in Service Co. International in the fourth quarter valued at approximately $92,331,000. GW&K Investment Management LLC bought a new stake in shares of Service Co. International during the fourth quarter valued at approximately $22,890,000. Jennison Associates LLC raised its holdings in shares of Service Co. International by 430.3% during the first quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock valued at $26,499,000 after buying an additional 289,741 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Service Co. International by 2,178.3% during the fourth quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock valued at $16,050,000 after buying an additional 224,192 shares during the last quarter. Finally, Coho Partners Ltd. raised its holdings in shares of Service Co. International by 10.6% during the first quarter. Coho Partners Ltd. now owns 1,685,111 shares of the company’s stock valued at $125,052,000 after buying an additional 161,570 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Service Co. International Price Performance

NYSE SCI opened at $75.01 on Friday. The stock has a market capitalization of $10.92 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.01 and a beta of 0.84. Service Co. International has a 1 year low of $52.89 and a 1 year high of $76.03. The business’s fifty day moving average is $71.76 and its two-hundred day moving average is $71.05. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.57 and a current ratio of 0.62.

Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Service Co. International had a net margin of 12.73% and a return on equity of 32.23%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $0.93 EPS. Service Co. International’s revenue was up 1.6% on a year-over-year basis. On average, research analysts forecast that Service Co. International will post 3.66 earnings per share for the current fiscal year.

Service Co. International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, June 14th. Service Co. International’s dividend payout ratio is currently 34.48%.

Insider Activity at Service Co. International

In related news, Director Tony Coelho sold 2,900 shares of Service Co. International stock in a transaction on Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the completion of the sale, the director now owns 60,629 shares of the company’s stock, valued at approximately $4,388,327.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SCI has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. UBS Group boosted their target price on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Truist Financial boosted their target price on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Service Co. International Profile

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.