PNC Financial Services Group Inc. Has $24.55 Million Stock Position in Service Co. International (NYSE:SCI)

PNC Financial Services Group Inc. lifted its stake in Service Co. International (NYSE:SCI) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 358,675 shares of the company’s stock after acquiring an additional 23,007 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.24% of Service Co. International worth $24,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SCI. Norges Bank acquired a new position in Service Co. International during the fourth quarter worth approximately $92,331,000. Lee Financial Co increased its position in Service Co. International by 66,929.4% during the fourth quarter. Lee Financial Co now owns 11,395 shares of the company’s stock worth $780,000 after buying an additional 11,378 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in Service Co. International during the fourth quarter worth approximately $209,000. Quadrant Capital Group LLC increased its position in Service Co. International by 296.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,224 shares of the company’s stock worth $152,000 after buying an additional 1,663 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Service Co. International during the fourth quarter worth approximately $548,000. Institutional investors and hedge funds own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCI. Oppenheimer boosted their price objective on Service Co. International from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. UBS Group boosted their price objective on Service Co. International from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Service Co. International presently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Service Co. International Trading Up 0.9 %

Shares of SCI stock opened at $70.10 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 2.90. The stock has a market cap of $10.21 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The stock has a 50 day simple moving average of $71.23 and a 200 day simple moving average of $68.59. Service Co. International has a 1 year low of $52.89 and a 1 year high of $75.97.

Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, research analysts predict that Service Co. International will post 3.66 earnings per share for the current fiscal year.

Service Co. International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, June 14th. Service Co. International’s dividend payout ratio (DPR) is currently 33.33%.

Insider Activity at Service Co. International

In other Service Co. International news, VP Steven A. Tidwell sold 45,995 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $75.43, for a total transaction of $3,469,402.85. Following the completion of the transaction, the vice president now directly owns 54,354 shares in the company, valued at $4,099,922.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Service Co. International news, VP Steven A. Tidwell sold 45,995 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $75.43, for a total transaction of $3,469,402.85. Following the completion of the transaction, the vice president now directly owns 54,354 shares in the company, valued at $4,099,922.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Sumner J. Waring III sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $75.07, for a total transaction of $3,753,500.00. Following the transaction, the chief operating officer now owns 289,400 shares of the company’s stock, valued at $21,725,258. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,292 shares of company stock worth $15,670,096. Company insiders own 4.60% of the company’s stock.

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.