Jennison Associates LLC Cuts Stake in Service Co. International (NYSE:SCI)

Jennison Associates LLC lessened its holdings in Service Co. International (NYSE:SCI) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,334 shares of the company’s stock after selling 11,478 shares during the period. Jennison Associates LLC’s holdings in Service Co. International were worth $4,609,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SCI. Larson Financial Group LLC purchased a new position in Service Co. International in the third quarter valued at $36,000. Massmutual Trust Co. FSB ADV raised its position in Service Co. International by 204.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 599 shares of the company’s stock valued at $41,000 after purchasing an additional 402 shares in the last quarter. M&R Capital Management Inc. boosted its stake in shares of Service Co. International by 125.5% in the 4th quarter. M&R Capital Management Inc. now owns 902 shares of the company’s stock valued at $62,000 after buying an additional 502 shares during the period. Fifth Third Bancorp grew its position in shares of Service Co. International by 45.4% during the third quarter. Fifth Third Bancorp now owns 1,224 shares of the company’s stock worth $70,000 after buying an additional 382 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Service Co. International during the third quarter worth approximately $80,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Insider Buying and Selling

In other Service Co. International news, Director Tony Coelho sold 8,950 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $75.39, for a total value of $674,740.50. Following the completion of the sale, the director now owns 60,887 shares in the company, valued at $4,590,270.93. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Tony Coelho sold 8,950 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $75.39, for a total value of $674,740.50. Following the completion of the sale, the director now directly owns 60,887 shares of the company’s stock, valued at $4,590,270.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sumner J. Waring III sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $75.07, for a total value of $3,753,500.00. Following the transaction, the chief operating officer now directly owns 289,400 shares in the company, valued at approximately $21,725,258. The disclosure for this sale can be found here. Insiders have sold 202,675 shares of company stock worth $15,066,906 in the last quarter. 5.10% of the stock is owned by insiders.

Service Co. International Stock Performance

Shares of Service Co. International stock opened at $71.74 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 3.02. Service Co. International has a 52 week low of $52.89 and a 52 week high of $75.97. The firm’s 50 day moving average is $72.33 and its two-hundred day moving average is $66.52. The firm has a market capitalization of $10.51 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.93 and a beta of 0.81.

Service Co. International (NYSE:SCI) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. Service Co. International had a net margin of 13.11% and a return on equity of 32.88%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $0.92 EPS. Service Co. International’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that Service Co. International will post 3.62 EPS for the current fiscal year.

Service Co. International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Service Co. International’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. Service Co. International’s dividend payout ratio is 32.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SCI. UBS Group lifted their price target on shares of Service Co. International from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Oppenheimer raised their price objective on shares of Service Co. International from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Service Co. International has an average rating of “Moderate Buy” and an average target price of $75.00.

About Service Co. International

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.