Truist Financial Corp Cuts Position in Signet Jewelers Limited (NYSE:SIG)

Truist Financial Corp decreased its holdings in Signet Jewelers Limited (NYSE:SIG) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,610 shares of the company’s stock after selling 256 shares during the quarter. Truist Financial Corp’s holdings in Signet Jewelers were worth $211,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SIG. Harbor Capital Advisors Inc. purchased a new position in Signet Jewelers in the third quarter worth $25,000. Van ECK Associates Corp raised its position in Signet Jewelers by 40.0% in the third quarter. Van ECK Associates Corp now owns 28,081 shares of the company’s stock worth $2,896,000 after acquiring an additional 8,024 shares in the last quarter. Atria Investments Inc purchased a new position in Signet Jewelers in the third quarter worth $254,000. State of New Jersey Common Pension Fund D raised its position in Signet Jewelers by 33.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 24,096 shares of the company’s stock worth $2,485,000 after acquiring an additional 6,079 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Signet Jewelers in the third quarter worth $977,000.

Signet Jewelers Trading Up 1.1 %

Signet Jewelers stock opened at $49.89 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of 5.74, a P/E/G ratio of 3.43 and a beta of 2.11. The stock has a 50-day moving average price of $61.22 and a 200 day moving average price of $80.87. Signet Jewelers Limited has a 52 week low of $46.66 and a 52 week high of $112.06. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts predict that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SIG. Bank of America dropped their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Telsey Advisory Group dropped their price target on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, January 15th. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company dropped their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.20.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the sale, the director now owns 22,752 shares in the company, valued at $1,231,565.76. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.26% of the stock is owned by company insiders.

About Signet Jewelers

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.