AQR Capital Management LLC lifted its stake in Service Co. International (NYSE:SCI) by 45.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 174,491 shares of the company’s stock after buying an additional 54,829 shares during the quarter. AQR Capital Management LLC’s holdings in Service Co. International were worth $8,908,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Service Co. International by 7.9% in the 1st quarter. Royal Bank of Canada now owns 129,547 shares of the company’s stock worth $6,614,000 after buying an additional 9,435 shares in the last quarter. Credit Agricole S A raised its holdings in shares of Service Co. International by 14.8% in the 1st quarter. Credit Agricole S A now owns 6,703 shares of the company’s stock worth $342,000 after buying an additional 865 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Service Co. International by 1.8% in the 1st quarter. Captrust Financial Advisors now owns 37,870 shares of the company’s stock worth $1,933,000 after buying an additional 673 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Service Co. International in the 1st quarter worth approximately $1,275,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Service Co. International by 4.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,227,984 shares of the company’s stock worth $164,776,000 after buying an additional 130,039 shares in the last quarter. 83.93% of the stock is owned by institutional investors and hedge funds.
NYSE SCI opened at $57.14 on Thursday. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.71 and a beta of 0.66. Service Co. International has a one year low of $37.94 and a one year high of $58.13. The stock’s 50 day simple moving average is $53.81. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.43 and a current ratio of 0.46.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.47%. Service Co. International’s payout ratio is 28.87%.
Service Co. International declared that its board has authorized a share buyback plan on Wednesday, May 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Separately, Oppenheimer increased their price target on Service Co. International from $54.00 to $59.00 in a research report on Monday, May 10th.
In other news, insider Tammy R. Moore sold 3,689 shares of the stock in a transaction on Monday, May 10th. The stock was sold at an average price of $56.51, for a total value of $208,465.39. Following the transaction, the insider now owns 38,616 shares of the company’s stock, valued at approximately $2,182,190.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan R. Buckwalter III sold 40,000 shares of the stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $56.01, for a total value of $2,240,400.00. Following the completion of the transaction, the director now directly owns 46,393 shares in the company, valued at approximately $2,598,471.93. The disclosure for this sale can be found here. Insiders sold a total of 64,389 shares of company stock worth $3,554,659 over the last quarter. Corporate insiders own 5.20% of the company’s stock.
Service Co. International Profile
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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