Principal Financial Group Inc. Sells 72,403 Shares of Service Co. International (NYSE:SCI)

Principal Financial Group Inc. reduced its stake in shares of Service Co. International (NYSE:SCI) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 484,670 shares of the company’s stock after selling 72,403 shares during the period. Principal Financial Group Inc. owned 0.33% of Service Co. International worth $34,475,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SCI. Swedbank AB bought a new position in Service Co. International during the 1st quarter worth $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 grew its holdings in Service Co. International by 430.3% during the 1st quarter. Jennison Associates LLC now owns 357,075 shares of the company’s stock worth $26,499,000 after acquiring an additional 289,741 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Service Co. International by 2,178.3% during the 4th quarter. Corient Private Wealth LLC now owns 234,484 shares of the company’s stock worth $16,050,000 after acquiring an additional 224,192 shares during the period. 85.53% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Tony Coelho sold 2,900 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 60,629 shares in the company, valued at approximately $4,388,327.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Tony Coelho sold 2,900 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $72.38, for a total value of $209,902.00. Following the transaction, the director now owns 60,629 shares of the company’s stock, valued at approximately $4,388,327.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 80,638 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $73.97, for a total transaction of $5,964,792.86. Following the completion of the transaction, the chief executive officer now directly owns 988,365 shares in the company, valued at approximately $73,109,359.05. The disclosure for this sale can be found here. Insiders sold a total of 86,180 shares of company stock worth $6,376,570 in the last three months. Company insiders own 5.10% of the company’s stock.

Service Co. International Stock Performance

Shares of SCI opened at $78.27 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.55 and a quick ratio of 0.51. The stock has a 50-day moving average of $74.27 and a 200-day moving average of $72.59. The company has a market cap of $11.40 billion, a PE ratio of 22.49, a P/E/G ratio of 2.23 and a beta of 0.84. Service Co. International has a one year low of $52.89 and a one year high of $80.37.

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

Service Co. International Dividend Announcement

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

Analysts Set New Price Targets

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

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.