Jennison Associates LLC Trims Stock Holdings in Service Co. International (NYSE:SCI)

Jennison Associates LLC cut its holdings in shares of Service Co. International (NYSE:SCI) by 41.5% during the third quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. BDF Gestion purchased a new position in Service Co. International during the 2nd quarter worth $3,948,000. Boston Trust Walden Corp grew its holdings in shares of 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 buying an additional 17,874 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Service Co. International during the first quarter worth about $917,000. Dimensional Fund Advisors LP increased its position in Service Co. International by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,942,559 shares of the company’s stock valued at $138,183,000 after acquiring an additional 135,017 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Service Co. International by 12.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,902 shares of the company’s stock valued at $14,358,000 after acquiring an additional 19,418 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Tony Coelho sold 2,555 shares of Service Co. International stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $85.64, for a total transaction of $218,810.20. Following the completion of the transaction, the director now owns 53,324 shares of the company’s stock, valued at $4,566,667.36. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $86.11, for a total transaction of $4,305,500.00. Following the completion of the sale, 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 three months, insiders sold 108,655 shares of company stock worth $9,356,203. Company insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

SCI has been the topic of a number of recent research reports. StockNews.com lowered Service Co. International from a “hold” rating to a “sell” rating in a report on Friday, November 8th. 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. Finally, Truist Financial raised their target price on shares of Service Co. International from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Service Co. International presently has an average rating of “Moderate Buy” and an average price target of $85.25.

Service Co. International Stock Up 1.3 %

SCI opened at $87.24 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.52 and a quick ratio of 0.48. Service Co. International has a 12 month low of $60.60 and a 12 month high of $88.32. The stock has a market capitalization of $12.62 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.52 and a beta of 0.83. The business has a 50 day simple moving average of $79.73 and a 200-day simple moving average of $75.72.

Service Co. International (NYSE:SCI) last released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Service Co. International had a return on equity of 31.84% and a net margin of 12.19%. Service Co. International’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Service Co. International will post 3.51 earnings per share 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. Shareholders of record on Friday, December 13th will be issued a $0.31 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Service Co. International’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.42%. Service Co. International’s dividend payout ratio (DPR) is 34.88%.

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.