Franklin Resources Inc. Sells 9,433 Shares of Service Co. International (NYSE:SCI)

Franklin Resources Inc. decreased its position in Service Co. International (NYSE:SCI - Free Report) by 59.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,479 shares of the company's stock after selling 9,433 shares during the quarter. Franklin Resources Inc.'s holdings in Service Co. International were worth $517,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Swedbank AB lifted its stake in shares of Service Co. International by 1.7% in the fourth quarter. Swedbank AB now owns 2,950,020 shares of the company's stock worth $235,471,000 after buying an additional 50,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Service Co. International by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,459,377 shares of the company's stock worth $116,487,000 after purchasing an additional 118,832 shares during the last quarter. Norges Bank bought a new stake in shares of Service Co. International in the 4th quarter worth about $96,498,000. Premier Fund Managers Ltd grew its holdings in shares of Service Co. International by 3.7% in the 4th quarter. Premier Fund Managers Ltd now owns 1,133,845 shares of the company's stock worth $90,521,000 after purchasing an additional 40,122 shares during the last quarter. Finally, Empower Advisory Group LLC grew its holdings in Service Co. International by 1.5% during the 4th quarter. Empower Advisory Group LLC now owns 959,823 shares of the company's stock worth $76,613,000 after acquiring an additional 13,764 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Service Co. International from a "sell" rating to a "hold" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

Insider Activity

In other Service Co. International news, Director Tony Coelho sold 6,500 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $79.29, for a total value of $515,385.00. Following the completion of the transaction, the director now owns 46,824 shares of the company's stock, valued at $3,712,674.96. This represents a 12.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Ryan sold 50,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $84.56, for a total value of $4,228,000.00. Following the completion of the sale, the chief executive officer now directly owns 982,333 shares of the company's stock, valued at approximately $83,066,078.48. The trade was a 4.84 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

Service Co. International Trading Up 1.6 %

Shares of SCI stock traded up $1.28 on Wednesday, hitting $80.75. The stock had a trading volume of 156,656 shares, compared to its average volume of 1,027,663. Service Co. International has a twelve month low of $67.19 and a twelve month high of $89.37. The firm has a market cap of $11.64 billion, a P/E ratio of 22.75, a PEG ratio of 1.90 and a beta of 0.81. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 2.83. The company has a fifty day moving average price of $78.68 and a two-hundred day moving average price of $80.01.

Service Co. International (NYSE:SCI - Get Free Report) last announced its 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%. As a group, analysts forecast that Service Co. International will post 3.84 earnings per share for the current fiscal year.

Service Co. International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.59%. This is an increase from Service Co. International's previous quarterly dividend of $0.31. The ex-dividend date was Friday, March 14th. Service Co. International's dividend payout ratio is currently 36.06%.

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.