JPMorgan Chase & Co. Buys 57,821 Shares of Carriage Services, Inc. (NYSE:CSV)

JPMorgan Chase & Co. increased its stake in shares of Carriage Services, Inc. (NYSE:CSV) by 94.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 118,891 shares of the company’s stock after purchasing an additional 57,821 shares during the quarter. JPMorgan Chase & Co. owned 0.78% of Carriage Services worth $3,903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Carriage Services by 46.6% during the 3rd quarter. FMR LLC now owns 852 shares of the company’s stock worth $28,000 after acquiring an additional 271 shares during the last quarter. Point72 DIFC Ltd lifted its position in shares of Carriage Services by 613.0% during the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after purchasing an additional 1,600 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Carriage Services by 1,074.3% during the third quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock worth $154,000 after purchasing an additional 4,297 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Carriage Services during the third quarter valued at $204,000. Finally, SG Americas Securities LLC bought a new position in shares of Carriage Services in the third quarter worth about $207,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Insider Activity

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the transaction, the vice president now owns 34,166 shares in the company, valued at $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Carriage Services Trading Up 0.9 %

CSV opened at $40.18 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 2.03. The stock’s fifty day moving average is $39.74 and its two-hundred day moving average is $34.53. The company 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, Inc. has a 52 week low of $22.84 and a 52 week high of $42.13.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.45 by $0.19. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The firm had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same quarter last year, the firm posted $0.33 earnings per share. Analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.12%. Carriage Services’s dividend payout ratio is presently 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.