Bank of New York Mellon Corp Sells 38,314 Shares of Service Corporation International (NYSE:SCI)

Bank of New York Mellon Corp lessened its holdings in Service Corporation International (NYSE:SCI - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,421,063 shares of the company's stock after selling 38,314 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Service Corporation International worth $113,969,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SCI. FMR LLC boosted its holdings in shares of Service Corporation International by 70.2% in the 4th quarter. FMR LLC now owns 6,901,982 shares of the company's stock valued at $550,916,000 after purchasing an additional 2,846,159 shares in the last quarter. Norges Bank acquired a new stake in shares of Service Corporation International during the 4th quarter valued at $96,498,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Service Corporation International by 237.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 911,294 shares of the company's stock valued at $72,739,000 after acquiring an additional 641,552 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Service Corporation International by 5.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,952,636 shares of the company's stock valued at $714,600,000 after acquiring an additional 492,822 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Service Corporation International by 136.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analyst Ratings Changes

SCI has been the topic of several recent research reports. Wall Street Zen raised Service Corporation International from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. UBS Group cut their price objective on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.25.

Service Corporation International Price Performance

Shares of NYSE SCI traded up $0.03 during mid-day trading on Friday, hitting $80.78. 625,042 shares of the stock traded hands, compared to its average volume of 1,061,991. The company has a market cap of $11.50 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.51 and a quick ratio of 0.46. Service Corporation International has a twelve month low of $70.46 and a twelve month high of $89.37. The firm has a 50 day simple moving average of $78.69 and a two-hundred day simple moving average of $78.56.

Service Corporation International (NYSE:SCI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.05. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. Service Corporation International had a return on equity of 32.35% and a net margin of 12.58%. Service Corporation International's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. As a group, equities research analysts forecast that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, June 13th. Service Corporation International's dividend payout ratio is currently 35.16%.

Insider Transactions at Service Corporation International

In related news, Director Tony Coelho sold 5,400 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.94, for a total transaction of $410,076.00. Following the completion of the transaction, the director directly owned 43,938 shares of the company's stock, valued at $3,336,651.72. This trade represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Service Corporation International Company 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.