Hsbc Holdings PLC Sells 7,301 Shares of Service Co. International (NYSE:SCI)

Hsbc Holdings PLC lessened its position in Service Co. International (NYSE:SCI) by 30.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,022 shares of the company’s stock after selling 7,301 shares during the period. Hsbc Holdings PLC’s holdings in Service Co. International were worth $1,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SCI. TFO Wealth Partners LLC raised its holdings in shares of Service Co. International by 12,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 366 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of Service Co. International by 100.0% during the second quarter. nVerses Capital LLC now owns 400 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Service Co. International during the first quarter valued at approximately $31,000. Whittier Trust Co. raised its holdings in shares of Service Co. International by 406.5% during the first quarter. Whittier Trust Co. now owns 542 shares of the company’s stock valued at $40,000 after purchasing an additional 435 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Service Co. International during the fourth quarter valued at approximately $42,000. Institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SCI shares. Truist Financial boosted their price objective on shares of Service Co. International from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 21st. StockNews.com cut shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.60.

Insider Transactions at Service Co. International

In other news, Director Ellen Ochoa sold 2,642 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total value of $201,875.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ellen Ochoa sold 2,642 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $76.41, for a total transaction of $201,875.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Ryan sold 80,638 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total transaction of $5,964,792.86. Following the transaction, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $73,109,359.05. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Service Co. International Stock Down 0.3 %

Shares of SCI stock opened at $78.37 on Friday. Service Co. International has a 12 month low of $52.89 and a 12 month high of $81.32. The stock has a market cap of $11.32 billion, a P/E ratio of 22.52, a P/E/G ratio of 2.29 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 3.05. The company has a 50 day simple moving average of $77.20 and a two-hundred day simple moving average of $73.46.

Service Co. International (NYSE:SCI) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Service Co. International had a return on equity of 32.07% and a net margin of 12.32%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. On average, research analysts expect that Service Co. International will post 3.52 earnings per share for the current year.

Service Co. International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. Service Co. International’s dividend payout ratio (DPR) is presently 34.48%.

Service Co. International Profile

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.