Signet Jewelers Limited (NYSE:SIG - Get Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $82.32, but opened at $80.24. Signet Jewelers shares last traded at $80.71, with a volume of 43,669 shares trading hands.
Specifically, insider Mary Elizabeth Finn sold 8,000 shares of Signet Jewelers stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the transaction, the insider now directly owns 46,821 shares of the company's stock, valued at approximately $3,745,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Analyst Ratings Changes
Several brokerages recently weighed in on SIG. Telsey Advisory Group reiterated a "market perform" rating and issued a $105.00 price objective on shares of Signet Jewelers in a research report on Wednesday, July 24th. StockNews.com raised Signet Jewelers from a "hold" rating to a "buy" rating in a report on Tuesday. Citigroup reaffirmed a "buy" rating and set a $119.00 target price on shares of Signet Jewelers in a research note on Friday, June 14th. Finally, Wells Fargo & Company decreased their price target on Signet Jewelers from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday. Two 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.20.
Check Out Our Latest Stock Analysis on SIG
Signet Jewelers Trading Up 0.8 %
The firm has a 50-day moving average price of $83.32 and a 200-day moving average price of $94.26. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 0.83 and a beta of 2.16.
Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the business earned $1.78 earnings per share. Signet Jewelers's revenue for the quarter was down 9.4% compared to the same quarter last year. Equities research analysts predict that Signet Jewelers Limited will post 10.6 EPS for the current fiscal year.
Signet Jewelers Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, July 26th. Signet Jewelers's dividend payout ratio is presently 9.43%.
Hedge Funds Weigh In On Signet Jewelers
A number of hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of Signet Jewelers by 25.0% in the first quarter. Nordea Investment Management AB now owns 76,951 shares of the company's stock worth $7,627,000 after acquiring an additional 15,376 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Signet Jewelers during the 1st quarter valued at $1,093,000. Illinois Municipal Retirement Fund boosted its position in shares of Signet Jewelers by 97.3% in the first quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company's stock worth $4,562,000 after buying an additional 22,482 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Signet Jewelers in the fourth quarter worth $1,370,000. Finally, BNP Paribas Financial Markets raised its position in Signet Jewelers by 28.2% during the fourth quarter. BNP Paribas Financial Markets now owns 65,723 shares of the company's stock valued at $7,049,000 after buying an additional 14,465 shares during the period.
About Signet Jewelers
(Get Free Report)
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.
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