CIBC Private Wealth Group LLC Cuts Stake in Service Co. International (NYSE:SCI)

CIBC Private Wealth Group LLC lessened its holdings in Service Co. International (NYSE:SCI) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,369 shares of the company’s stock after selling 530 shares during the quarter. CIBC Private Wealth Group LLC owned 0.07% of Service Co. International worth $8,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SCI. SBI Securities Co. Ltd. purchased a new position in shares of Service Co. International in the fourth quarter worth about $25,000. Vision Financial Markets LLC purchased a new position in Service Co. International in the 4th quarter worth approximately $52,000. Whipplewood Advisors LLC bought a new stake in Service Co. International in the fourth quarter valued at approximately $60,000. Blue Trust Inc. boosted its stake in shares of Service Co. International by 20.1% during the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the company’s stock valued at $110,000 after purchasing an additional 234 shares during the period. Finally, Principal Securities Inc. grew its holdings in shares of Service Co. International by 13.9% in the fourth quarter. Principal Securities Inc. now owns 1,936 shares of the company’s stock worth $155,000 after purchasing an additional 236 shares during the last quarter. 85.53% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Tony Coelho sold 6,500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $79.29, for a total value of $515,385.00. Following the completion of the transaction, the director now directly owns 46,824 shares in the company, valued at $3,712,674.96. This trade represents a 12.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 50,000 shares of Service Co. International stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $84.56, for a total transaction of $4,228,000.00. Following the transaction, the chief executive officer now directly owns 982,333 shares of the company’s stock, valued at approximately $83,066,078.48. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer increased their price target on shares of Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Service Co. International Stock Performance

NYSE:SCI opened at $80.89 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.83. The firm’s fifty day simple moving average is $79.04 and its 200 day simple moving average is $80.23. The stock has a market cap of $11.67 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. Service Co. International has a twelve month low of $67.19 and a twelve month high of $89.37.

Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, February 12th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Service Co. International had a net margin of 12.39% and a return on equity of 32.18%. As a group, research analysts predict that Service Co. International will post 3.84 EPS for the current year.

Service Co. International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.58%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.31. Service Co. International’s dividend payout ratio is currently 36.06%.

Service Co. International Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.