Hsbc Holdings PLC Cuts Stake in Service Corporation International $SCI

Hsbc Holdings PLC reduced its position in shares of Service Corporation International (NYSE:SCI - Free Report) by 42.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,499 shares of the company's stock after selling 4,739 shares during the quarter. Hsbc Holdings PLC's holdings in Service Corporation International were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in Service Corporation International during the 1st quarter valued at $1,379,000. Aptus Capital Advisors LLC increased its position in Service Corporation International by 12.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 71,974 shares of the company's stock valued at $5,772,000 after purchasing an additional 7,716 shares during the period. Algert Global LLC purchased a new position in Service Corporation International during the 1st quarter valued at $513,000. Corient IA LLC purchased a new position in Service Corporation International during the 1st quarter valued at $401,000. Finally, Raymond James Financial Inc. increased its position in Service Corporation International by 23.2% during the 1st quarter. Raymond James Financial Inc. now owns 200,307 shares of the company's stock valued at $16,065,000 after purchasing an additional 37,760 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Service Corporation International

In related news, President Sumner J. Waring III sold 56,100 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $76.57, for a total value of $4,295,577.00. Following the completion of the transaction, the president directly owned 295,192 shares in the company, valued at $22,602,851.44. This trade represents a 15.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen Ochoa sold 2,514 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $79.41, for a total transaction of $199,636.74. The disclosure for this sale can be found here. Insiders have sold 252,073 shares of company stock valued at $20,116,529 in the last quarter. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SCI. Raymond James Financial reissued an "outperform" rating and set a $90.00 price objective (up from $85.00) on shares of Service Corporation International in a research report on Monday, August 4th. Oppenheimer boosted their price objective on shares of Service Corporation International from $86.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $90.25.

Service Corporation International Stock Down 1.3%

Shares of Service Corporation International stock traded down $0.99 during trading on Friday, hitting $77.62. The company's stock had a trading volume of 958,459 shares, compared to its average volume of 777,678. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.56 and a current ratio of 0.61. The company has a fifty day simple moving average of $79.55 and a two-hundred day simple moving average of $78.81. The company has a market capitalization of $10.89 billion, a PE ratio of 21.04, a P/E/G ratio of 1.89 and a beta of 0.90. Service Corporation International has a 52 week low of $71.75 and a 52 week high of $89.37.

Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Service Corporation International had a net margin of 12.60% and a return on equity of 32.84%. Service Corporation International's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Service Corporation International has set its FY 2025 guidance at 3.700-4.00 EPS. Equities research analysts predict that Service Corporation International will post 3.84 earnings per share for the current year.

Service Corporation International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, September 15th. Service Corporation International's dividend payout ratio (DPR) is presently 34.69%.

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.