Truist Financial Corp Acquires 6,755 Shares of Signet Jewelers Limited (NYSE:SIG)

Truist Financial Corp grew its holdings in shares of Signet Jewelers Limited (NYSE:SIG) by 204.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,062 shares of the company’s stock after purchasing an additional 6,755 shares during the period. Truist Financial Corp’s holdings in Signet Jewelers were worth $901,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in Signet Jewelers during the second quarter worth about $51,000. Hexagon Capital Partners LLC boosted its position in Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after buying an additional 175 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after buying an additional 122 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Signet Jewelers by 6.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after acquiring an additional 116 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Signet Jewelers during the 2nd quarter worth $180,000.

Signet Jewelers Stock Performance

Shares of SIG opened at $97.58 on Tuesday. The firm has a market cap of $4.35 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 1.12 and a beta of 2.10. Signet Jewelers Limited has a fifty-two week low of $67.18 and a fifty-two week high of $112.06. The business has a 50-day moving average of $86.68 and a 200 day moving average of $92.04.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. As a group, research analysts predict that Signet Jewelers Limited will post 10.8 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 1.19%. Signet Jewelers’s dividend payout ratio (DPR) is presently 9.43%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SIG. Telsey Advisory Group reiterated a “market perform” rating and set a $87.00 price target on shares of Signet Jewelers in a report on Wednesday, October 2nd. StockNews.com raised shares of Signet Jewelers from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. UBS Group dropped their target price on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company reduced their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Finally, Bank of America dropped their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $108.60.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the transaction, the insider now directly owns 162,942 shares of the company’s stock, valued at approximately $13,542,109.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the transaction, the insider now owns 162,942 shares in the company, valued at approximately $13,542,109.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the sale, the chief executive officer now owns 775,345 shares of the company’s stock, valued at $78,829,326.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,892 shares of company stock worth $6,536,982. 3.26% of the stock is currently owned by corporate insiders.

Signet Jewelers Company Profile

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 Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.