Bank of America Corp DE Sells 120,574 Shares of Service Co. International (NYSE:SCI)

Bank of America Corp DE trimmed its holdings in Service Co. International (NYSE:SCI) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 604,280 shares of the company’s stock after selling 120,574 shares during the quarter. Bank of America Corp DE’s holdings in Service Co. International were worth $48,234,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Service Co. International by 263.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,912 shares of the company’s stock worth $1,206,000 after buying an additional 11,530 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Service Co. International during the 4th quarter worth $340,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Service Co. International by 1.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 185,277 shares of the company’s stock worth $14,348,000 after buying an additional 3,375 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Service Co. International by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 920,222 shares of the company’s stock worth $73,452,000 after buying an additional 5,074 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Service Co. International during the 4th quarter worth $3,229,000. 85.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Service Co. International

In other news, CEO Thomas L. Ryan sold 50,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $84.56, for a total value of $4,228,000.00. Following the completion of the transaction, the chief executive officer now owns 982,333 shares in the company, valued at approximately $83,066,078.48. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tony Coelho sold 5,400 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $75.94, for a total transaction of $410,076.00. Following the completion of the transaction, the director now owns 43,938 shares of the company’s stock, valued at approximately $3,336,651.72. This represents a 10.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,900 shares of company stock valued at $5,153,461 in the last ninety days. Company insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Service Co. International from $90.00 to $88.00 and set a “buy” rating for the company in a report on Friday, May 2nd. StockNews.com raised shares of Service Co. International from a “sell” rating to a “hold” rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Service Co. International presently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Service Co. International Price Performance

Shares of Service Co. International stock opened at $75.22 on Thursday. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.52 and a quick ratio of 0.48. Service Co. International has a fifty-two week low of $68.51 and a fifty-two week high of $89.37. The firm has a fifty day moving average price of $78.01 and a two-hundred day moving average price of $80.19. The company has a market cap of $10.71 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.

Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Service Co. International had a net margin of 12.39% and a return on equity of 32.18%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $0.89 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Service Co. International will post 3.84 EPS for the current year.

Service Co. International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, June 13th. Service Co. International’s dividend payout ratio (DPR) is presently 35.16%.

Service Co. 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.