Insider Selling: Service Corporation International (SCI) Insider Sells $7,009,400.00 in Stock
Service Corporation International (NYSE:SCI) insider Michael R. Webb sold 202,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $34.70, for a total transaction of $7,009,400.00. Following the sale, the insider now directly owns 622,903 shares in the company, valued at approximately $21,614,734.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Service Corporation International (NYSE:SCI) opened at 35.37 on Thursday. The company has a market cap of $6.62 billion, a PE ratio of 19.17 and a beta of 0.93. Service Corporation International has a one year low of $24.90 and a one year high of $35.89. The firm’s 50-day moving average is $35.05 and its 200-day moving average is $32.69.
Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Service Corporation International had a net margin of 11.59% and a return on equity of 24.67%. The company had revenue of $773.20 million for the quarter, compared to analysts’ expectations of $769.57 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Service Corporation International will post $1.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, September 14th. Service Corporation International’s dividend payout ratio is presently 32.43%.
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A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Service Corporation International from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub raised shares of Service Corporation International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $37.00 target price (up previously from $34.00) on shares of Service Corporation International in a report on Friday, July 21st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.00.
Several institutional investors have recently modified their holdings of SCI. BlackRock Inc. boosted its stake in shares of Service Corporation International by 13,931.4% during the 1st quarter. BlackRock Inc. now owns 16,407,111 shares of the company’s stock worth $506,652,000 after acquiring an additional 16,290,180 shares during the last quarter. Morgan Stanley boosted its stake in shares of Service Corporation International by 385.2% during the 1st quarter. Morgan Stanley now owns 2,869,347 shares of the company’s stock worth $88,606,000 after acquiring an additional 2,277,979 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Service Corporation International during the 1st quarter worth $37,427,000. Vanguard Group Inc. boosted its stake in shares of Service Corporation International by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 14,875,922 shares of the company’s stock worth $459,368,000 after acquiring an additional 583,346 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in shares of Service Corporation International by 271.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock worth $26,016,000 after acquiring an additional 568,279 shares during the last quarter. Institutional investors and hedge funds own 84.83% of the company’s stock.
About Service Corporation International
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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