Corebridge Financial Inc. Sells 8,546 Shares of Service Co. International (NYSE:SCI)

Corebridge Financial Inc. reduced its holdings in Service Co. International (NYSE:SCI) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,624 shares of the company’s stock after selling 8,546 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Service Co. International worth $13,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Service Co. International in the fourth quarter worth approximately $25,000. Vision Financial Markets LLC bought a new position in shares of Service Co. International in the 4th quarter worth $52,000. Whipplewood Advisors LLC bought a new position in shares of Service Co. International in the 4th quarter worth $60,000. Quest Partners LLC raised its position in shares of Service Co. International by 110,300.0% during the 3rd quarter. Quest Partners LLC now owns 1,104 shares of the company’s stock valued at $87,000 after buying an additional 1,103 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Service Co. International by 20.1% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the company’s stock worth $110,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Service Co. International Stock Performance

NYSE:SCI opened at $78.51 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.83. The firm’s fifty day simple moving average is $78.71 and its 200 day simple moving average is $80.20. The stock has a market cap of $11.32 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. Service Co. International has a twelve month low of $67.19 and a twelve month high of $89.37.

Service Co. International (NYSE:SCI) last announced its earnings results on Wednesday, February 12th. The company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Service Co. International had a net margin of 12.39% and a return on equity of 32.18%. As a group, research analysts predict that Service Co. International will post 3.84 EPS for the current year.

Service Co. International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.63%. This is a positive change from Service Co. International’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, March 14th. Service Co. International’s dividend payout ratio (DPR) is presently 36.06%.

Insider Transactions at Service Co. International

In related news, CEO Thomas L. Ryan sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $84.56, for a total transaction of $4,228,000.00. Following the completion of the sale, the chief executive officer now owns 982,333 shares of the company’s stock, valued at $83,066,078.48. This trade represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tony Coelho sold 6,500 shares of Service Co. International stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $79.29, for a total value of $515,385.00. Following the completion of the sale, the director now directly owns 46,824 shares of the company’s stock, valued at approximately $3,712,674.96. The trade was a 12.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SCI has been the topic of a number of research analyst reports. StockNews.com cut Service Co. International from a “hold” rating to a “sell” rating in a research note on Wednesday. Oppenheimer raised their price objective on Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.50.

Service Co. International Company Profile

Service Corp. International engages in the provision of funeral goods and services. It operates through the Funeral and Cemetery segments. The Funeral segment offers services related to cremations, including the use of home facilities and motor vehicles, arranging and directing services, removal, preparation, embalming, memorialization, and catering.