Parallel Advisors LLC Has $332,000 Stake in Service Corporation International $SCI

Parallel Advisors LLC cut its stake in shares of Service Corporation International (NYSE:SCI) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,081 shares of the company’s stock after selling 513 shares during the quarter. Parallel Advisors LLC’s holdings in Service Corporation International were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCI. Deutsche Bank AG grew its holdings in shares of Service Corporation International by 0.9% in the first quarter. Deutsche Bank AG now owns 1,024,608 shares of the company’s stock valued at $82,174,000 after acquiring an additional 9,342 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Service Corporation International by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 931,194 shares of the company’s stock worth $74,682,000 after buying an additional 10,972 shares in the last quarter. Principal Financial Group Inc. increased its stake in Service Corporation International by 136.1% in the first quarter. Principal Financial Group Inc. now owns 782,429 shares of the company’s stock valued at $62,751,000 after acquiring an additional 451,068 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Service Corporation International by 0.3% during the first quarter. HighTower Advisors LLC now owns 777,936 shares of the company’s stock valued at $62,391,000 after buying an additional 2,316 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Service Corporation International by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,978 shares of the company’s stock valued at $51,647,000 after buying an additional 15,967 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Sumner J. Waring III sold 56,100 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $76.57, for a total value of $4,295,577.00. Following the completion of the sale, the president owned 295,192 shares of the company’s stock, valued at $22,602,851.44. This represents a 15.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ellen Ochoa sold 2,514 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $79.41, for a total transaction of $199,636.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,082 shares of company stock valued at $20,117,233. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

SCI has been the subject of a number of analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $90.00 target price (up from $85.00) on shares of Service Corporation International in a report on Monday, August 4th. Oppenheimer boosted their price objective on shares of Service Corporation International from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $90.25.

Service Corporation International Trading Down 0.7%

NYSE:SCI opened at $80.00 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.19. The firm has a fifty day simple moving average of $79.16 and a 200-day simple moving average of $78.80. Service Corporation International has a 12 month low of $71.75 and a 12 month high of $89.37. The company has a market capitalization of $11.22 billion, a P/E ratio of 21.68, a PEG ratio of 1.94 and a beta of 0.90.

Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $0.79 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. On average, equities research analysts anticipate that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. Service Corporation International’s dividend payout ratio is currently 34.69%.

Service Corporation 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.