Putnam Investments LLC Lowers Stock Holdings in Signet Jewelers Limited (NYSE:SIG)

Putnam Investments LLC trimmed its position in Signet Jewelers Limited (NYSE:SIG – Get Rating) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 34,876 shares of the company’s stock after selling 633 shares during the period. Putnam Investments LLC’s holdings in Signet Jewelers were worth $1,994,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Signet Jewelers by 342.8% during the third quarter. Quadrant Capital Group LLC now owns 766 shares of the company’s stock worth $44,000 after acquiring an additional 593 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of Signet Jewelers in the third quarter worth approximately $66,000. Lazard Asset Management LLC grew its holdings in shares of Signet Jewelers by 115.4% in the second quarter. Lazard Asset Management LLC now owns 1,174 shares of the company’s stock worth $62,000 after purchasing an additional 629 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of Signet Jewelers in the third quarter worth approximately $81,000. Finally, Point72 Europe London LLP bought a new position in shares of Signet Jewelers in the third quarter worth approximately $111,000. 97.88% of the stock is owned by hedge funds and other institutional investors.

Signet Jewelers Stock Performance

NYSE:SIG opened at $70.67 on Monday. The stock has a market cap of $3.21 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.79 and a beta of 2.18. The firm’s fifty day simple moving average is $74.31 and its 200 day simple moving average is $66.50. Signet Jewelers Limited has a twelve month low of $48.31 and a twelve month high of $84.80. The company has a quick ratio of 0.37, a current ratio of 1.56 and a debt-to-equity ratio of 0.11.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Signet Jewelers from a “hold” rating to a “buy” rating in a report on Tuesday, February 14th. Bank of America raised their target price 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. UBS Group raised their target price 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. Citigroup raised their target price on shares of Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. Finally, Telsey Advisory Group lifted their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $75.88, for a total transaction of $758,800.00. Following the completion of the transaction, the chief executive officer now owns 1,106,059 shares of the company’s stock, valued at $83,927,756.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Signet Jewelers news, insider Stash Ptak sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the insider now owns 34,333 shares of the company’s stock, valued at $2,574,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total value of $758,800.00. Following the transaction, the chief executive officer now directly owns 1,106,059 shares of the company’s stock, valued at approximately $83,927,756.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock worth $1,570,000 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Signet Jewelers Company Profile

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.