Magnetar Financial LLC Makes New Investment in Signet Jewelers Limited (NYSE:SIG)

Magnetar Financial LLC bought a new stake in Signet Jewelers Limited (NYSE:SIG) during the fourth quarter, Holdings Channel reports. The institutional investor bought 29,958 shares of the company’s stock, valued at approximately $2,418,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in Signet Jewelers by 1.0% in the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock valued at $181,122,000 after buying an additional 16,912 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Signet Jewelers by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 676,289 shares of the company’s stock valued at $54,583,000 after acquiring an additional 6,393 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Signet Jewelers by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 338,247 shares of the company’s stock worth $27,300,000 after purchasing an additional 6,542 shares in the last quarter. JPMorgan Chase & Co. increased its position in Signet Jewelers by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 310,852 shares of the company’s stock worth $32,061,000 after purchasing an additional 3,238 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Signet Jewelers by 33.2% in the fourth quarter. William Blair Investment Management LLC now owns 309,129 shares of the company’s stock valued at $24,950,000 after buying an additional 76,966 shares during the last quarter.

Insiders Place Their Bets

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the transaction, the director now directly owns 22,752 shares in the company, valued at $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.26% of the company’s stock.

Signet Jewelers Trading Down 0.6 %

Shares of NYSE SIG opened at $56.31 on Friday. Signet Jewelers Limited has a 12 month low of $45.55 and a 12 month high of $112.06. The business has a fifty day simple moving average of $54.89 and a 200-day simple moving average of $78.50. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 6.48, a P/E/G ratio of 3.43 and a beta of 2.20. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, topping the consensus estimate of $6.39 by $0.23. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.73 earnings per share. Sell-side analysts predict that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be issued a dividend of $0.32 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, April 25th. Signet Jewelers’s payout ratio is currently 13.35%.

Analyst Ratings Changes

Several analysts have commented on SIG shares. Wells Fargo & Company lowered their price target on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday. Bank of America cut their price target on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Telsey Advisory Group restated a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a research note on Wednesday. Finally, UBS Group lifted their target price on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

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.