Signet Jewelers Limited (NYSE:SIG) Position Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in Signet Jewelers Limited (NYSE:SIG) by 224.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,444 shares of the company’s stock after acquiring an additional 75,688 shares during the quarter. Wells Fargo & Company MN’s holdings in Signet Jewelers were worth $8,833,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SIG. HighTower Advisors LLC bought a new position in shares of Signet Jewelers during the 3rd quarter valued at $225,000. Virtu Financial LLC bought a new stake in Signet Jewelers in the third quarter valued at about $210,000. Franklin Resources Inc. grew its position in Signet Jewelers by 0.9% in the third quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock valued at $3,330,000 after acquiring an additional 288 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Signet Jewelers by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 310,852 shares of the company’s stock worth $32,061,000 after acquiring an additional 3,238 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Signet Jewelers by 36.3% in the fourth quarter. Nordea Investment Management AB now owns 132,070 shares of the company’s stock valued at $10,704,000 after buying an additional 35,174 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on SIG. Bank of America decreased their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. UBS Group increased their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Telsey Advisory Group restated a “market perform” rating and set a $55.00 target price on shares of Signet Jewelers in a report on Wednesday, March 19th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 target price (down from $80.00) on shares of Signet Jewelers in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.60.

Insider Activity at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction on Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the sale, the director now directly owns 22,752 shares in the company, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Kevin Symancyk acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average price of $57.45 per share, with a total value of $861,750.00. Following the acquisition, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. The trade was a 42.01 % increase in their position. The disclosure for this purchase can be found here. 3.26% of the stock is owned by insiders.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $55.34 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. Signet Jewelers Limited has a one year low of $45.55 and a one year high of $112.06. The business’s 50 day simple moving average is $53.99 and its 200 day simple moving average is $73.70. The stock has a market capitalization of $2.37 billion, a PE ratio of 6.37, a PEG ratio of 3.43 and a beta of 1.63.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.39 by $0.23. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.73 earnings per share. As a group, research analysts forecast that Signet Jewelers Limited will post 8.73 earnings per share for the current year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.28 annualized dividend and a yield of 2.31%. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s dividend payout ratio (DPR) is presently -168.42%.

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.