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

Bank of New York Mellon Corp lessened its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,063 shares of the company's stock after selling 38,314 shares during the period. Bank of New York Mellon Corp owned 0.99% of Service Corporation International worth $113,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCI. SBI Securities Co. Ltd. purchased a new position in shares of Service Corporation International during the 4th quarter valued at $25,000. Quarry LP lifted its holdings in Service Corporation International by 359.8% during the 4th quarter. Quarry LP now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 367 shares in the last quarter. Mizuho Bank Ltd. purchased a new stake in Service Corporation International during the 4th quarter worth about $40,000. Resona Asset Management Co. Ltd. purchased a new stake in Service Corporation International during the 4th quarter worth about $40,000. Finally, GeoWealth Management LLC purchased a new stake in Service Corporation International during the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 85.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised Service Corporation International from a "sell" rating to a "hold" rating in a report on Thursday, April 3rd. UBS Group dropped 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 assigned a buy rating to the stock. According to data from MarketBeat, Service Corporation International has an average rating of "Moderate Buy" and a consensus target price of $89.25.

Service Corporation International Price Performance

NYSE SCI traded up $0.03 during trading on Friday, reaching $80.78. The company's stock had a trading volume of 625,042 shares, compared to its average volume of 1,061,824. The stock has a market capitalization of $11.50 billion, a PE ratio of 22.19, a P/E/G 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. The firm has a fifty day moving average of $78.69 and a 200 day moving average of $78.53. Service Corporation International has a one year low of $70.46 and a one year high of $89.37.

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 for the quarter, topping analysts' consensus estimates of $0.91 by $0.05. The business had revenue of $1.07 billion for 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%. The company's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. Analysts expect that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Dividend Announcement

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

Insiders Place Their Bets

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

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.