Service Co. International (NYSE:SCI) Shares Sold by Bellevue Group AG

Bellevue Group AG decreased its stake in Service Co. International (NYSE:SCI) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,500 shares of the company’s stock after selling 2,000 shares during the period. Bellevue Group AG’s holdings in Service Co. International were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCI. Norges Bank acquired a new stake in shares of Service Co. International in the fourth quarter valued at about $82,505,000. Principal Financial Group Inc. lifted its stake in shares of Service Co. International by 145.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,331,290 shares of the company’s stock valued at $65,366,000 after purchasing an additional 789,211 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Service Co. International by 21.7% in the first quarter. Sarasin & Partners LLP now owns 3,582,756 shares of the company’s stock valued at $182,900,000 after purchasing an additional 638,504 shares during the period. Morgan Stanley lifted its stake in shares of Service Co. International by 151.0% in the fourth quarter. Morgan Stanley now owns 525,321 shares of the company’s stock valued at $25,793,000 after purchasing an additional 316,027 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Service Co. International by 13.9% in the first quarter. Handelsbanken Fonder AB now owns 2,553,010 shares of the company’s stock valued at $130,331,000 after purchasing an additional 311,000 shares during the period. Hedge funds and other institutional investors own 86.20% of the company’s stock.

Separately, Oppenheimer raised their price objective on shares of Service Co. International from $54.00 to $59.00 in a research note on Monday, May 10th.

In other news, Director Alan R. Buckwalter III sold 40,000 shares of Service Co. International stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $56.01, for a total transaction of $2,240,400.00. Following the completion of the sale, the director now directly owns 46,393 shares in the company, valued at $2,598,471.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory T. Sangalis sold 20,700 shares of Service Co. International stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $53.42, for a total transaction of $1,105,794.00. Following the sale, the vice president now owns 144,999 shares of the company’s stock, valued at $7,745,846.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,389 shares of company stock valued at $3,554,659. Insiders own 5.20% of the company’s stock.

NYSE:SCI opened at $54.18 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.46 and a quick ratio of 0.43. The company’s 50-day simple moving average is $53.09. Service Co. International has a twelve month low of $36.38 and a twelve month high of $56.86. The stock has a market cap of $9.11 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.61 and a beta of 0.66.

Service Co. International (NYSE:SCI) last posted its earnings results on Sunday, May 2nd. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.33. Service Co. International had a net margin of 17.50% and a return on equity of 37.81%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $955.77 million. During the same period last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. As a group, sell-side analysts predict that Service Co. International will post 2.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.55%. Service Co. International’s dividend payout ratio (DPR) is presently 28.87%.

Service Co. International announced that its Board of Directors has approved a share repurchase program on Wednesday, May 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 5.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Service Co. International Profile

Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

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Institutional Ownership by Quarter for Service Co. International (NYSE:SCI)

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