Truist Financial Corp Has $9.57 Million Position in Service Co. International (NYSE:SCI)

Truist Financial Corp lowered its stake in Service Co. International (NYSE:SCI) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,881 shares of the company’s stock after selling 7,053 shares during the period. Truist Financial Corp owned 0.08% of Service Co. International worth $9,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Service Co. International by 263.1% in the third quarter. Franklin Resources Inc. now owns 15,912 shares of the company’s stock valued at $1,206,000 after purchasing an additional 11,530 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Service Co. International by 12.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 181,902 shares of the company’s stock valued at $14,358,000 after purchasing an additional 19,418 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Service Co. International by 7,802.1% in the third quarter. International Assets Investment Management LLC now owns 7,586 shares of the company’s stock valued at $599,000 after purchasing an additional 7,490 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Service Co. International by 5.1% in the third quarter. Geode Capital Management LLC now owns 3,211,902 shares of the company’s stock valued at $253,567,000 after purchasing an additional 156,086 shares in the last quarter. Finally, Premier Fund Managers Ltd increased its holdings in shares of Service Co. International by 23.9% in the third quarter. Premier Fund Managers Ltd now owns 1,093,723 shares of the company’s stock valued at $85,721,000 after purchasing an additional 210,802 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SCI. StockNews.com raised shares of Service Co. International from a “sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial raised their price objective on shares of Service Co. International from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James raised 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, Oppenheimer raised their price objective on shares of Service Co. International from $86.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

Service Co. International Trading Up 0.4 %

Shares of NYSE SCI opened at $78.97 on Friday. The company’s fifty day moving average is $78.80 and its 200-day moving average is $79.64. The stock has a market cap of $11.39 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 1.91 and a beta of 0.87. Service Co. International has a twelve month low of $67.19 and a twelve month high of $89.37. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 2.83.

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

Service Co. International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost 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 currently 33.80%.

About Service Co. International

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.