State Street Corp Reduces Holdings in Service Co. International (NYSE:SCI)

State Street Corp reduced its position in shares of Service Co. International (NYSE:SCI - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,482,546 shares of the company's stock after selling 59,696 shares during the period. State Street Corp owned approximately 3.10% of Service Co. International worth $353,807,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Select Equity Group L.P. increased its holdings in Service Co. International by 53.5% in the second quarter. Select Equity Group L.P. now owns 7,239,783 shares of the company's stock valued at $514,966,000 after buying an additional 2,524,795 shares in the last quarter. FMR LLC grew its position in shares of Service Co. International by 300.6% in the third quarter. FMR LLC now owns 4,055,823 shares of the company's stock valued at $320,126,000 after purchasing an additional 3,043,354 shares during the last quarter. Swedbank AB grew its position in shares of Service Co. International by 1.9% in the third quarter. Swedbank AB now owns 2,900,020 shares of the company's stock valued at $228,899,000 after purchasing an additional 55,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Service Co. International by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company's stock valued at $138,183,000 after purchasing an additional 135,017 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Service Co. International by 3.5% in the third quarter. Handelsbanken Fonder AB now owns 1,810,148 shares of the company's stock valued at $142,875,000 after purchasing an additional 61,838 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Service Co. International

In other news, VP Elisabeth G. Nash sold 56,100 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $86.13, for a total value of $4,831,893.00. Following the transaction, the vice president now owns 109,260 shares of the company's stock, valued at approximately $9,410,563.80. This trade represents a 33.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas L. Ryan sold 50,000 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $86.11, for a total transaction of $4,305,500.00. Following the completion of the transaction, the chief executive officer now directly owns 982,333 shares in the company, valued at approximately $84,588,694.63. This represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,655 shares of company stock worth $9,356,203 in the last quarter. 4.60% of the stock is owned by insiders.

Analyst Ratings Changes

SCI has been the topic of several research reports. Raymond James increased their price target on shares of Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Truist Financial increased their price target on shares of Service Co. International from $84.00 to $92.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Service Co. International from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.25.

Service Co. International Trading Down 0.8 %

NYSE SCI traded down $0.66 during mid-day trading on Tuesday, reaching $85.73. 749,019 shares of the stock were exchanged, compared to its average volume of 904,974. Service Co. International has a 1-year low of $64.10 and a 1-year high of $89.37. The business's fifty day simple moving average is $81.60 and its 200 day simple moving average is $77.18. The stock has a market capitalization of $12.40 billion, a PE ratio of 25.12, a PEG ratio of 2.53 and a beta of 0.85. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52.

Service Co. International (NYSE:SCI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. Service Co. International's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. On average, research analysts anticipate that Service Co. International will post 3.51 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Service Co. International's previous quarterly dividend of $0.30. Service Co. International's dividend payout ratio (DPR) is 34.88%.

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.