Verition Fund Management LLC Raises Stock Position in Service Co. International (NYSE:SCI)

Verition Fund Management LLC boosted its position in shares of Service Co. International (NYSE:SCIGet Rating) by 11.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 9,833 shares of the company’s stock after purchasing an additional 1,030 shares during the period. Verition Fund Management LLC’s holdings in Service Co. International were worth $647,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SCI. HighTower Advisors LLC grew its stake in Service Co. International by 24.7% during the fourth quarter. HighTower Advisors LLC now owns 5,918 shares of the company’s stock valued at $421,000 after acquiring an additional 1,174 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Service Co. International by 3.4% during the fourth quarter. JPMorgan Chase & Co. now owns 349,961 shares of the company’s stock valued at $24,843,000 after acquiring an additional 11,526 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Service Co. International during the fourth quarter valued at approximately $10,177,000. Charles Schwab Investment Management Inc. grew its stake in Service Co. International by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 877,908 shares of the company’s stock valued at $62,323,000 after acquiring an additional 8,755 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Service Co. International by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 2,555,518 shares of the company’s stock worth $181,443,000 after buying an additional 157,254 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jakki L. Haussler sold 11,748 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $63.16, for a total value of $742,003.68. Following the completion of the sale, the director now directly owns 4,937 shares in the company, valued at approximately $311,820.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Service Co. International Price Performance

SCI stock opened at $57.81 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.51 and a quick ratio of 0.46. Service Co. International has a one year low of $57.27 and a one year high of $75.11. The stock has a market cap of $9.12 billion, a PE ratio of 12.49, a P/E/G ratio of 2.03 and a beta of 0.75. The firm has a 50 day simple moving average of $66.07 and a two-hundred day simple moving average of $67.03.

Service Co. International (NYSE:SCIGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Service Co. International had a net margin of 18.38% and a return on equity of 39.67%. The business had revenue of $990.86 million during the quarter, compared to analysts’ expectations of $956.30 million. On average, analysts predict that Service Co. International will post 3.43 EPS for the current fiscal year.

Service Co. International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Service Co. International’s dividend payout ratio is presently 21.60%.

Service Co. International Profile

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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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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:SCIGet Rating).

Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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