Truist Financial Corp Decreases Stock Holdings in Signet Jewelers Limited (NYSE:SIG)

Truist Financial Corp trimmed its position in shares of Signet Jewelers Limited (NYSE:SIG – Get Rating) by 56.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,752 shares of the company’s stock after selling 8,610 shares during the quarter. Truist Financial Corp’s holdings in Signet Jewelers were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wipfli Financial Advisors LLC purchased a new stake in shares of Signet Jewelers during the third quarter valued at about $81,000. Steel Peak Wealth Management LLC increased its holdings in shares of Signet Jewelers by 20.0% during the third quarter. Steel Peak Wealth Management LLC now owns 6,000 shares of the company’s stock valued at $343,000 after acquiring an additional 1,000 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Signet Jewelers during the third quarter valued at about $257,000. Versor Investments LP acquired a new position in shares of Signet Jewelers during the third quarter valued at about $355,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Signet Jewelers by 5.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,780 shares of the company’s stock valued at $1,589,000 after acquiring an additional 1,314 shares in the last quarter. 97.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Signet Jewelers news, insider Stash Ptak sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the insider now owns 34,333 shares in the company, valued at approximately $2,574,975. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Signet Jewelers in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Telsey Advisory Group upped their price objective on shares of Signet Jewelers from $72.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, December 7th. Citigroup upped their price objective on shares of Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. Bank of America increased their price target on shares of Signet Jewelers from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, December 7th. Finally, UBS Group increased their price target on shares of Signet Jewelers from $79.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Signet Jewelers currently has a consensus rating of “Hold” and an average target price of $85.00.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $76.04 on Wednesday. Signet Jewelers Limited has a twelve month low of $48.31 and a twelve month high of $88.43. The company’s 50 day moving average is $67.91 and its 200 day moving average is $63.40. The company has a current ratio of 1.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.46 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.76 and a beta of 2.12.

Signet Jewelers (NYSE:SIG – Get Rating) last released its quarterly earnings data on Tuesday, December 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.30 by $0.44. Signet Jewelers had a return on equity of 47.90% and a net margin of 5.18%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts forecast that Signet Jewelers Limited will post 11.86 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Friday, January 27th will be given a $0.20 dividend. The ex-dividend date is Thursday, January 26th. This represents a $0.80 annualized dividend and a yield of 1.05%. Signet Jewelers’s dividend payout ratio is presently 12.90%.

Signet Jewelers Profile

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Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.