Principal Financial Group Inc. cut its stake in shares of Service Co. International (NYSE:SCI - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 337,022 shares of the company's stock after selling 147,648 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Service Co. International worth $26,601,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in SCI. Select Equity Group L.P. increased its holdings in shares of 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 purchasing an additional 2,524,795 shares during the period. FMR LLC grew its position in Service Co. International by 300.6% in the 3rd quarter. FMR LLC now owns 4,055,823 shares of the company's stock valued at $320,126,000 after buying an additional 3,043,354 shares during the last quarter. Geode Capital Management LLC increased its stake in Service Co. International by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,211,902 shares of the company's stock valued at $253,567,000 after buying an additional 156,086 shares during the period. Swedbank AB raised its position in Service Co. International by 1.9% during the 3rd quarter. Swedbank AB now owns 2,900,020 shares of the company's stock worth $228,899,000 after buying an additional 55,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Service Co. International by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company's stock worth $138,183,000 after buying an additional 135,017 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on SCI shares. Raymond James lifted their target price on shares of Service Co. International from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Oppenheimer boosted their target price on Service Co. International from $86.00 to $92.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Truist Financial increased their target price on Service Co. International from $84.00 to $92.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded Service Co. International from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Service Co. International presently has an average rating of "Moderate Buy" and an average price target of $88.50.
Get Our Latest Report on Service Co. International
Insider Buying and Selling
In other news, Director Tony Coelho sold 2,555 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $85.64, for a total transaction of $218,810.20. Following the transaction, the director now directly owns 53,324 shares in the company, valued at $4,566,667.36. This represents a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Elisabeth G. Nash sold 56,100 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company's stock, valued at approximately $9,410,563.80. The trade was a 33.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,655 shares of company stock worth $9,356,203 in the last three months. Corporate insiders own 4.60% of the company's stock.
Service Co. International Price Performance
SCI traded up $0.27 on Wednesday, hitting $80.82. 281,593 shares of the company were exchanged, compared to its average volume of 908,337. Service Co. International has a fifty-two week low of $64.10 and a fifty-two week high of $89.37. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.48 and a current ratio of 0.52. The firm has a market capitalization of $11.69 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.85. The business's fifty day moving average is $83.41 and its 200 day moving average is $78.16.
Service Co. International (NYSE:SCI - Get Free Report) last announced 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 return on equity of 31.84% and a net margin of 12.19%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Service Co. International will post 3.51 EPS for the current year.
Service Co. International Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Service Co. International's previous quarterly dividend of $0.30. Service Co. International's payout ratio is 34.88%.
About Service Co. International
(
Free Report)
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.
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