Hsbc Holdings PLC Reduces Position in Service Co. International (NYSE:SCI)

Hsbc Holdings PLC reduced its position in shares of Service Co. International (NYSE:SCIFree Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,808 shares of the company’s stock after selling 100,682 shares during the period. Hsbc Holdings PLC owned about 0.14% of Service Co. International worth $14,330,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Service Co. International in the fourth quarter valued at approximately $92,331,000. GW&K Investment Management LLC acquired a new position in shares of Service Co. International in the 4th quarter valued at $22,890,000. Sequoia Financial Advisors LLC purchased a new position in shares of Service Co. International in the 3rd quarter valued at $14,350,000. Corient Private Wealth LLC raised its stake in Service Co. International by 2,178.3% during the 4th quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock worth $16,050,000 after acquiring an additional 224,192 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Service Co. International by 47.7% in the third quarter. Qube Research & Technologies Ltd now owns 608,961 shares of the company’s stock valued at $34,796,000 after acquiring an additional 196,739 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCI has been the topic of several research reports. Oppenheimer raised their price objective on Service Co. International from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. UBS Group raised their price target on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.80.

View Our Latest Report on SCI

Service Co. International Price Performance

Shares of NYSE:SCI opened at $71.66 on Friday. Service Co. International has a one year low of $52.89 and a one year high of $75.97. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.94 and a beta of 0.81. The company has a 50-day simple moving average of $70.85 and a 200-day simple moving average of $69.21. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.57 and a current ratio of 0.62.

Service Co. International (NYSE:SCIGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $0.93 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Service Co. International will post 3.66 EPS for the current year.

Service Co. International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.30 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. Service Co. International’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling at Service Co. International

In other news, CEO Thomas L. Ryan sold 75,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $73.53, for a total value of $5,514,750.00. Following the completion of the sale, the chief executive officer now owns 988,365 shares in the company, valued at approximately $72,674,478.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Service Co. International news, Director W Blair Waltrip sold 6,150 shares of Service Co. International stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $74.38, for a total value of $457,437.00. Following the sale, the director now owns 597,948 shares of the company’s stock, valued at approximately $44,475,372.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 75,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $73.53, for a total value of $5,514,750.00. Following the transaction, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,712 shares of company stock valued at $14,473,020. 5.10% of the stock is owned by company insiders.

About Service Co. International

(Free Report)

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.

See Also

Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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