Federated Hermes Inc. Lowers Holdings in Signet Jewelers Limited (NYSE:SIG)

Key Points

• Federated Hermes Inc. reduced its holdings in Signet Jewelers by 40.5%, selling 10,165 shares and leaving it with 14,937 shares valued at approximately $867,000.
• Signet Jewelers' most recent earnings report showed an EPS of $1.18, which exceeded the estimated EPS of $1.01, alongside revenue of $1.54 billion.
• A quarterly dividend of $0.32 was declared, with a yield of 1.7%, and investors should note the company's high dividend payout ratio of 139.13%.

Federated Hermes Inc. lessened its stake in Signet Jewelers Limited (NYSE:SIG - Free Report) by 40.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,937 shares of the company's stock after selling 10,165 shares during the quarter. Federated Hermes Inc.'s holdings in Signet Jewelers were worth $867,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Cetera Investment Advisers raised its holdings in Signet Jewelers by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 11,182 shares of the company's stock worth $649,000 after purchasing an additional 403 shares during the period. Royce & Associates LP raised its holdings in Signet Jewelers by 12.5% in the 1st quarter. Royce & Associates LP now owns 227,535 shares of the company's stock worth $13,211,000 after purchasing an additional 25,255 shares during the period. Allianz Asset Management GmbH increased its stake in Signet Jewelers by 4.2% during the 1st quarter. Allianz Asset Management GmbH now owns 28,579 shares of the company's stock worth $1,659,000 after buying an additional 1,145 shares in the last quarter. Signaturefd LLC increased its stake in Signet Jewelers by 174.1% during the 1st quarter. Signaturefd LLC now owns 943 shares of the company's stock worth $55,000 after buying an additional 599 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Signet Jewelers during the 1st quarter worth approximately $3,020,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SIG shares. Jefferies Financial Group started coverage on Signet Jewelers in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. CL King started coverage on Signet Jewelers in a research note on Monday, May 5th. They set a "buy" rating and a $80.00 price objective for the company. Bank of America boosted their price objective on Signet Jewelers from $65.00 to $78.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Telsey Advisory Group boosted their price objective on Signet Jewelers from $80.00 to $92.00 and gave the stock a "market perform" rating in a research note on Friday, July 25th. Finally, UBS Group boosted their price objective on Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Signet Jewelers has a consensus rating of "Moderate Buy" and an average target price of $88.86.

Signet Jewelers Stock Performance

Shares of SIG stock traded up $3.61 during trading hours on Tuesday, reaching $79.94. The company had a trading volume of 94,439 shares, compared to its average volume of 1,366,011. The stock has a fifty day moving average of $80.03 and a 200-day moving average of $65.28. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 86.88, a PEG ratio of 0.67 and a beta of 1.40. Signet Jewelers Limited has a 12-month low of $45.55 and a 12-month high of $106.28.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.17. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. On average, analysts forecast that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 25th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, July 25th. Signet Jewelers's dividend payout ratio is presently 139.13%.

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.