PNC Financial Services Group Inc. Sells 20,691 Shares of Service Co. International (NYSE:SCI)

PNC Financial Services Group Inc. cut its position in Service Co. International (NYSE:SCI) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,925 shares of the company’s stock after selling 20,691 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Service Co. International were worth $26,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCI. O Shaughnessy Asset Management LLC boosted its position in Service Co. International by 23.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 21,427 shares of the company’s stock worth $1,590,000 after purchasing an additional 4,009 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Service Co. International by 26.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,236 shares of the company’s stock valued at $9,073,000 after acquiring an additional 25,717 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Service Co. International during the first quarter worth $65,000. Redwood Investment Management LLC purchased a new stake in shares of Service Co. International during the first quarter worth $1,509,000. Finally, Tidal Investments LLC bought a new position in shares of Service Co. International in the first quarter worth $917,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

SCI has been the topic of a number of recent research reports. Truist Financial increased their price objective on Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com downgraded shares of Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Raymond James boosted their price objective on shares of Service Co. International from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.25.

Service Co. International Price Performance

Shares of NYSE SCI opened at $86.11 on Friday. The stock’s 50-day simple moving average is $79.46 and its two-hundred day simple moving average is $75.51. Service Co. International has a twelve month low of $60.23 and a twelve month high of $88.32. The firm has a market capitalization of $12.45 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.51 and a beta of 0.83. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.91.

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

Service Co. International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.31 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.44%. Service Co. International’s payout ratio is 34.88%.

Insider Activity at Service Co. International

In other news, VP Elisabeth G. Nash sold 56,100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $86.13, for a total value of $4,831,893.00. Following the completion of the transaction, the vice president now directly owns 109,260 shares in the company, valued at approximately $9,410,563.80. This represents a 33.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by insiders.

Service Co. International Company 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.