Signet Jewelers Limited (NYSE:SIG) Receives $109.60 Consensus Price Target from Brokerages

Signet Jewelers Limited (NYSE:SIG) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $109.60.

Several analysts recently commented on SIG shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a report on Wednesday. Wells Fargo & Company lifted their price objective on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America lowered their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, UBS Group lowered their target price on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th.

Insiders Place Their Bets

In other news, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the completion of the transaction, the chief executive officer now directly owns 775,345 shares in the company, valued at approximately $78,829,326.15. This represents a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the sale, the insider now directly owns 200,844 shares in the company, valued at approximately $18,993,817.08. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,957 shares of company stock worth $4,599,306 in the last three months. 3.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently modified their holdings of SIG. Sei Investments Co. increased its position in Signet Jewelers by 44.4% during the first quarter. Sei Investments Co. now owns 11,689 shares of the company’s stock valued at $1,170,000 after acquiring an additional 3,594 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Signet Jewelers by 5.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,521 shares of the company’s stock valued at $4,956,000 after acquiring an additional 2,368 shares during the last quarter. Lazard Asset Management LLC increased its position in Signet Jewelers by 6.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after acquiring an additional 116 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Signet Jewelers by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,791 shares of the company’s stock valued at $3,682,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Signet Jewelers during the first quarter valued at $228,000.

Signet Jewelers Trading Down 2.1 %

Signet Jewelers stock opened at $99.98 on Monday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.18 and a beta of 2.12. The stock has a fifty day simple moving average of $97.03 and a two-hundred day simple moving average of $91.61. Signet Jewelers has a 12 month low of $72.26 and a 12 month high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Signet Jewelers’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.16%. The ex-dividend date was Friday, October 25th. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.43%.

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.