Summit Financial LLC Invests $292,000 in Service Co. International (NYSE:SCI)

Summit Financial LLC acquired a new position in shares of Service Co. International (NYSE:SCI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,664 shares of the company's stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCI. SBI Securities Co. Ltd. bought a new stake in shares of Service Co. International in the 4th quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in Service Co. International in the fourth quarter worth $52,000. Whipplewood Advisors LLC bought a new stake in Service Co. International in the fourth quarter worth $60,000. Blue Trust Inc. grew its stake in shares of Service Co. International by 20.1% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the company's stock worth $110,000 after acquiring an additional 234 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Service Co. International by 13.9% during the fourth quarter. Principal Securities Inc. now owns 1,936 shares of the company's stock valued at $155,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 85.53% of the company's stock.

Service Co. International Stock Performance

Shares of NYSE SCI traded up $1.67 during trading on Tuesday, reaching $76.75. 441,141 shares of the company traded hands, compared to its average volume of 1,230,649. The firm has a 50 day simple moving average of $79.08 and a 200-day simple moving average of $80.19. Service Co. International has a 52-week low of $67.19 and a 52-week high of $89.37. The stock has a market capitalization of $11.06 billion, a PE ratio of 21.62, a P/E/G ratio of 1.90 and a beta of 0.81. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.83.

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Service Co. International (NYSE:SCI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. Service Co. International had a net margin of 12.39% and a return on equity of 32.18%. Equities research analysts anticipate that Service Co. International will post 3.84 earnings per share for the current year.

Service Co. International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, March 14th. This is a boost from Service Co. International's previous quarterly dividend of $0.31. Service Co. International's dividend payout ratio is 36.06%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SCI shares. Oppenheimer upped their price target on shares of Service Co. International from $86.00 to $92.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. StockNews.com upgraded shares of Service Co. International from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.50.

Insider Buying and Selling at Service Co. International

In other news, CEO Thomas L. Ryan sold 50,000 shares of the company's 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 completion of the sale, the chief executive officer now owns 982,333 shares of the company's stock, valued at $83,066,078.48. This represents a 4.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tony Coelho sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $79.29, for a total transaction of $515,385.00. Following the completion of the transaction, the director now directly owns 46,824 shares in the company, valued at approximately $3,712,674.96. The trade was a 12.19 % decrease in their position. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.

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.