JPMorgan Chase & Co. Raises Position in Carriage Services, Inc. (NYSE:CSV)

JPMorgan Chase & Co. increased its holdings in shares of Carriage Services, Inc. (NYSE:CSV) by 94.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 118,891 shares of the company’s stock after purchasing an additional 57,821 shares during the period. JPMorgan Chase & Co.’s holdings in Carriage Services were worth $3,903,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in Carriage Services by 8.4% during the 2nd quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock valued at $557,000 after purchasing an additional 1,616 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Carriage Services by 16.8% during the second quarter. American Century Companies Inc. now owns 18,117 shares of the company’s stock valued at $486,000 after buying an additional 2,607 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Carriage Services by 8.2% in the 2nd quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock valued at $16,547,000 after acquiring an additional 46,700 shares during the period. Hsbc Holdings PLC raised its stake in Carriage Services by 19.5% in the 2nd quarter. Hsbc Holdings PLC now owns 11,371 shares of the company’s stock worth $303,000 after acquiring an additional 1,857 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Carriage Services during the 2nd quarter worth about $207,000. 66.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the transaction, the vice president now owns 34,166 shares in the company, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Barrington Research increased their price objective on Carriage Services from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 6th.

Carriage Services Stock Up 0.9 %

NYSE:CSV opened at $40.18 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The company’s fifty day moving average price is $39.74 and its 200-day moving average price is $34.53. Carriage Services, Inc. has a 1-year low of $22.84 and a 1-year high of $42.13. The firm has a market capitalization of $611.49 million, a P/E ratio of 18.02, a PEG ratio of 0.91 and a beta of 0.93.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.19. The business had revenue of $100.69 million during the quarter, compared to analysts’ expectations of $93.49 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, equities research analysts anticipate that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be paid a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, February 3rd. Carriage Services’s dividend payout ratio is currently 20.18%.

Carriage Services Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.