Tyers Asset Management LLC Cuts Position in Signet Jewelers (SIG)

Tyers Asset Management LLC trimmed its position in Signet Jewelers (NYSE:SIG) by 45.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,140 shares of the company’s stock after selling 23,380 shares during the period. Tyers Asset Management LLC’s holdings in Signet Jewelers were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SIG. Discovery Capital Management LLC CT acquired a new position in shares of Signet Jewelers in the 4th quarter valued at $77,095,000. Alliancebernstein L.P. increased its position in shares of Signet Jewelers by 1,105.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,302,225 shares of the company’s stock valued at $73,641,000 after acquiring an additional 1,194,187 shares during the period. Schroder Investment Management Group acquired a new position in shares of Signet Jewelers in the 4th quarter valued at $47,013,000. Arrowstreet Capital Limited Partnership increased its position in shares of Signet Jewelers by 998.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 528,255 shares of the company’s stock valued at $29,873,000 after acquiring an additional 480,155 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of Signet Jewelers by 86.4% in the 4th quarter. Guggenheim Capital LLC now owns 906,766 shares of the company’s stock valued at $51,277,000 after acquiring an additional 420,413 shares during the period.

SIG stock opened at $39.49 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.12 and a current ratio of 3.32. Signet Jewelers has a 52-week low of $33.11 and a 52-week high of $77.94. The stock has a market cap of $2.30 billion, a PE ratio of 5.74, a PEG ratio of 1.23 and a beta of 0.84.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Wednesday, March 14th. The company reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $0.02. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $4.03 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. sell-side analysts forecast that Signet Jewelers will post 3.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 4th will be paid a dividend of $0.37 per share. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, May 3rd. Signet Jewelers’s dividend payout ratio is presently 22.73%.

In other news, CEO Virginia Drosos bought 4,830 shares of the stock in a transaction dated Friday, April 13th. The shares were acquired at an average cost of $38.73 per share, with a total value of $187,065.90. Following the purchase, the chief executive officer now directly owns 116,682 shares in the company, valued at approximately $4,519,093.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

SIG has been the topic of several recent research reports. Zacks Investment Research raised shares of Signet Jewelers from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 23rd. ValuEngine lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. JPMorgan Chase reaffirmed a “hold” rating and issued a $52.00 price target on shares of Signet Jewelers in a report on Monday, March 12th. Wells Fargo reaffirmed a “hold” rating on shares of Signet Jewelers in a report on Wednesday, March 14th. Finally, Nomura set a $45.00 price target on shares of Signet Jewelers and gave the company a “buy” rating in a report on Thursday, March 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.45.

Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.

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Institutional Ownership by Quarter for Signet Jewelers (NYSE:SIG)

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