Bank of New York Mellon Corp Sells 16,302 Shares of Signet Jewelers Limited (NYSE:SIG)

Bank of New York Mellon Corp lowered its stake in shares of Signet Jewelers Limited (NYSE:SIG) by 4.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 321,945 shares of the company’s stock after selling 16,302 shares during the quarter. Bank of New York Mellon Corp’s holdings in Signet Jewelers were worth $18,692,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of Signet Jewelers by 1.4% during the first quarter. Principal Financial Group Inc. now owns 216,455 shares of the company’s stock valued at $12,567,000 after acquiring an additional 2,920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Signet Jewelers in the first quarter valued at approximately $2,112,000. Illinois Municipal Retirement Fund boosted its position in Signet Jewelers by 29.2% in the first quarter. Illinois Municipal Retirement Fund now owns 79,556 shares of the company’s stock valued at $4,619,000 after buying an additional 17,988 shares during the last quarter. Grace & White Inc. NY boosted its position in Signet Jewelers by 19.8% in the first quarter. Grace & White Inc. NY now owns 248,312 shares of the company’s stock valued at $14,417,000 after buying an additional 41,050 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Signet Jewelers in the 1st quarter worth approximately $250,000.

Insider Buying and Selling

In other news, Director Helen Mccluskey bought 1,700 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost of $58.86 per share, for a total transaction of $100,062.00. Following the acquisition, the director directly owned 31,916 shares of the company’s stock, valued at $1,878,575.76. The trade was a 5.63% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

SIG has been the topic of several recent research reports. Telsey Advisory Group upped their price objective on Signet Jewelers from $62.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 3rd. CL King assumed coverage on Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 target price on the stock. Jefferies Financial Group assumed coverage on Signet Jewelers in a research report on Monday, June 16th. They set a “buy” rating and a $102.00 target price on the stock. UBS Group increased their price objective on Signet Jewelers from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Citigroup raised their target price on Signet Jewelers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

Signet Jewelers Stock Up 1.2%

Shares of SIG opened at $81.93 on Friday. The company has a market capitalization of $3.37 billion, a PE ratio of 89.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.39. Signet Jewelers Limited has a 52-week low of $45.55 and a 52-week high of $106.28. The stock has a fifty day simple moving average of $75.57 and a two-hundred day simple moving average of $63.96.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. As a group, equities analysts anticipate that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 25th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, July 25th. Signet Jewelers’s dividend payout ratio (DPR) is 139.13%.

Signet Jewelers 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.