Principal Financial Group Inc. Has $62.75 Million Stock Holdings in Service Corporation International (NYSE:SCI)

Principal Financial Group Inc. lifted its stake in Service Corporation International (NYSE:SCI - Free Report) by 136.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 782,429 shares of the company's stock after purchasing an additional 451,068 shares during the period. Principal Financial Group Inc. owned 0.54% of Service Corporation International worth $62,751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Service Corporation International during the 4th quarter worth $25,000. Quarry LP increased its stake in shares of 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 during the last quarter. Mizuho Bank Ltd. bought a new stake in Service Corporation International in the fourth quarter valued at approximately $40,000. Resona Asset Management Co. Ltd. bought a new position in Service Corporation International during the fourth quarter worth $40,000. Finally, GeoWealth Management LLC acquired a new position in Service Corporation International in the 4th quarter valued at about $53,000. 85.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SCI shares. UBS Group lowered their target price on Service Corporation International from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded Service Corporation International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.25.

Insider Buying and Selling

In other Service Corporation International 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 value of $410,076.00. Following the sale, the director owned 43,938 shares of the company's stock, valued at approximately $3,336,651.72. This trade represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by company insiders.

Service Corporation International Price Performance

Service Corporation International stock traded up $0.55 during mid-day trading on Tuesday, reaching $82.44. 188,788 shares of the company were exchanged, compared to its average volume of 1,059,145. The company has a fifty day simple moving average of $78.44 and a 200-day simple moving average of $78.52. Service Corporation International has a 12 month low of $68.84 and a 12 month high of $89.37. 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 market cap of $11.74 billion, a PE ratio of 22.65, a PEG ratio of 2.02 and a beta of 0.92.

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

Service Corporation International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.55%. Service Corporation International's dividend payout ratio (DPR) is presently 35.16%.

About Service Corporation International

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.