Banco Santander S.A. Sells 19,358 Shares of Service Co. International (NYSE:SCI)

Banco Santander S.A. reduced its stake in Service Co. International (NYSE:SCI) by 18.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,542 shares of the company’s stock after selling 19,358 shares during the quarter. Banco Santander S.A. owned about 0.06% of Service Co. International worth $5,942,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Service Co. International during the first quarter worth approximately $224,137,000. Norges Bank bought a new position in Service Co. International during the 4th quarter worth $92,331,000. GW&K Investment Management LLC bought a new position in Service Co. International during the 4th quarter worth $22,890,000. Jennison Associates LLC lifted its holdings in shares of Service Co. International by 430.3% during the first quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock worth $26,499,000 after buying an additional 289,741 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Service Co. International by 2,178.3% in the fourth quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock valued at $16,050,000 after acquiring an additional 224,192 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Service Co. International Price Performance

Shares of NYSE:SCI traded down $0.01 during midday trading on Thursday, hitting $78.33. The stock had a trading volume of 577,255 shares, compared to its average volume of 911,443. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $11.41 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 2.20 and a beta of 0.84. The company’s 50-day moving average price is $74.04 and its 200-day moving average price is $72.46. Service Co. International has a fifty-two week low of $52.89 and a fifty-two week high of $80.37.

Service Co. International (NYSE:SCI) last released its earnings results on Wednesday, July 31st. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). Service Co. International had a return on equity of 32.07% and a net margin of 12.32%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Service Co. International will post 3.52 EPS for the current fiscal year.

Service Co. International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, September 13th. Service Co. International’s dividend payout ratio is presently 34.48%.

Insiders Place Their Bets

In other news, Director Tony Coelho sold 2,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the sale, the director now directly owns 60,629 shares in the company, valued at approximately $4,388,327.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Tony Coelho sold 2,900 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $72.38, for a total value of $209,902.00. Following the completion of the transaction, the director now directly owns 60,629 shares in the company, valued at approximately $4,388,327.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas L. Ryan sold 80,638 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $73.97, for a total value of $5,964,792.86. Following the sale, the chief executive officer now owns 988,365 shares in the company, valued at approximately $73,109,359.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,180 shares of company stock valued at $6,376,570. 5.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCI shares. StockNews.com lowered shares of Service Co. International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Oppenheimer lifted their price target on shares of Service Co. International from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. UBS Group boosted their price target on Service Co. International from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial raised their price objective on Service Co. International from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.60.

Service Co. International 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.