Service Co. International (NYSE:SCI) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in Service Co. International (NYSE:SCI) by 41.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,405 shares of the company’s stock after selling 19,467 shares during the quarter. Jennison Associates LLC’s holdings in Service Co. International were worth $2,163,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. BDF Gestion acquired a new position in shares of Service Co. International in the 2nd quarter worth approximately $3,948,000. Boston Trust Walden Corp lifted its stake in Service Co. International by 2.7% during the second quarter. Boston Trust Walden Corp now owns 684,846 shares of the company’s stock worth $48,713,000 after purchasing an additional 17,874 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Service Co. International during the first quarter worth $917,000. Dimensional Fund Advisors LP grew its stake 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 buying an additional 135,017 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Service Co. International by 12.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,902 shares of the company’s stock valued at $14,358,000 after buying an additional 19,418 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCI shares. StockNews.com cut Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Truist Financial raised their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Raymond James upped their target price on shares of Service Co. International from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.25.

Insider Transactions at Service Co. International

In related news, VP Elisabeth G. Nash sold 56,100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $86.13, for a total transaction of $4,831,893.00. Following the completion of the sale, the vice president now owns 109,260 shares in the company, valued at $9,410,563.80. The trade was a 33.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 50,000 shares of the stock in a transaction that occurred 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 owns 982,333 shares in the company, valued at $84,588,694.63. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,655 shares of company stock valued at $9,356,203. 5.10% of the stock is currently owned by corporate insiders.

Service Co. International Stock Performance

Shares of SCI opened at $87.24 on Friday. The stock has a 50-day simple moving average of $79.73 and a 200-day simple moving average of $75.72. 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 has a 1 year low of $60.60 and a 1 year high of $88.32. The stock has a market capitalization of $12.62 billion, a PE ratio of 25.36, a PEG ratio of 2.52 and a beta of 0.83.

Service Co. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Service Co. International had a net margin of 12.19% and a return on equity of 31.84%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Service Co. International will post 3.51 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The firm 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 dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.42%. This is an increase from Service Co. International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. Service Co. International’s payout ratio 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.