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Service Co. International (NYSE:SCI) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lessened its stake in shares of Service Co. International (NYSE:SCIGet Rating) by 39.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 818 shares of the company’s stock after selling 532 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Service Co. International were worth $54,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SCI. BlackRock Inc. boosted its holdings in shares of Service Co. International by 3.8% during the fourth quarter. BlackRock Inc. now owns 16,245,403 shares of the company’s stock worth $1,153,262,000 after purchasing an additional 591,626 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Service Co. International by 246.1% during the first quarter. CIBC Asset Management Inc now owns 764,273 shares of the company’s stock worth $50,305,000 after purchasing an additional 543,433 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Service Co. International by 190.4% during the fourth quarter. Renaissance Technologies LLC now owns 715,200 shares of the company’s stock worth $50,772,000 after purchasing an additional 468,900 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Service Co. International by 10,867.0% during the first quarter. Assenagon Asset Management S.A. now owns 463,464 shares of the company’s stock worth $30,505,000 after purchasing an additional 459,238 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Service Co. International by 30.7% during the fourth quarter. Invesco Ltd. now owns 1,285,804 shares of the company’s stock worth $91,278,000 after purchasing an additional 301,662 shares during the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.

Insider Buying and Selling at Service Co. International

In other Service Co. International news, VP Steven A. Tidwell sold 63,700 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $70.71, for a total value of $4,504,227.00. Following the transaction, the vice president now directly owns 52,125 shares of the company’s stock, valued at $3,685,758.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Steven A. Tidwell sold 63,700 shares of Service Co. International stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $70.71, for a total transaction of $4,504,227.00. Following the sale, the vice president now directly owns 52,125 shares of the company’s stock, valued at $3,685,758.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ellen Ochoa sold 2,613 shares of Service Co. International stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $68.90, for a total value of $180,035.70. The disclosure for this sale can be found here. Insiders have sold 151,263 shares of company stock valued at $10,667,236 over the last three months. 5.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Oppenheimer increased their target price on Service Co. International from $64.00 to $74.00 in a research report on Monday, May 9th.

Service Co. International Trading Down 2.5 %

Shares of SCI opened at $63.92 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.46 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $10.08 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 2.20 and a beta of 0.70. The stock’s fifty day simple moving average is $68.76 and its 200 day simple moving average is $66.95. Service Co. International has a twelve month low of $57.27 and a twelve month high of $75.11.

Service Co. International announced that its Board of Directors has approved a stock buyback program on Wednesday, May 4th that permits the company to buyback $394.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Service Co. International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, September 14th. Service Co. International’s dividend payout ratio (DPR) is presently 21.60%.

Service Co. International Profile

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Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

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