PEAK6 Investments L.P. boosted its position in shares of Service Co. International (NYSE:SCI) by 100.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,418 shares of the company’s stock after acquiring an additional 34,340 shares during the period. PEAK6 Investments L.P.’s holdings in Service Co. International were worth $2,553,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aperio Group LLC boosted its holdings in Service Co. International by 7.7% during the third quarter. Aperio Group LLC now owns 49,425 shares of the company’s stock valued at $1,705,000 after purchasing an additional 3,546 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Service Co. International during the third quarter valued at approximately $4,806,000. Rhumbline Advisers boosted its holdings in Service Co. International by 6.7% during the third quarter. Rhumbline Advisers now owns 402,060 shares of the company’s stock valued at $13,871,000 after purchasing an additional 25,158 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Service Co. International by 284.8% during the third quarter. Russell Investments Group Ltd. now owns 257,164 shares of the company’s stock valued at $8,872,000 after purchasing an additional 190,334 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Service Co. International during the third quarter valued at approximately $878,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.
Service Co. International (NYSE:SCI) opened at $38.95 on Wednesday. The company has a market capitalization of $7,257.90, a P/E ratio of 13.67, a PEG ratio of 1.79 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 2.22. Service Co. International has a 1-year low of $30.02 and a 1-year high of $40.28.
Service Co. International declared that its board has authorized a stock repurchase program on Tuesday, February 13th that authorizes the company to repurchase $298.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a $0.17 dividend. This is an increase from Service Co. International’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, March 14th. Service Co. International’s payout ratio is presently 21.05%.
In other news, Director Tony Coelho sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $39.11, for a total value of $121,632.10. Following the transaction, the director now directly owns 63,240 shares of the company’s stock, valued at approximately $2,473,316.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is owned by insiders.
A number of research firms have weighed in on SCI. Bank of America lifted their price objective on Service Co. International from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Deutsche Bank lifted their price objective on Service Co. International from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Credit Suisse Group lifted their price objective on Service Co. International from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Oppenheimer reaffirmed a “buy” rating and set a $42.00 price objective on shares of Service Co. International in a report on Thursday, January 18th. Finally, Off Wall Street began coverage on Service Co. International in a report on Friday, December 15th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Service Co. International presently has an average rating of “Buy” and a consensus price target of $43.60.
Service Co. International Profile
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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