Signet Jewelers (NYSE:SIG) Stock Price Up 3.4% After Dividend Announcement

Signet Jewelers Limited (NYSE:SIG) shares traded up 3.4% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $57.87 and last traded at $58.22. 228,287 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,048,343 shares. The stock had previously closed at $56.30.

The newly announced dividend which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.19%. Signet Jewelers’s payout ratio is presently 13.35%.

Analyst Upgrades and Downgrades

SIG has been the topic of several research reports. Bank of America lowered 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. Wells Fargo & Company decreased their price objective on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group boosted their target price on Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday. Finally, StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

Signet Jewelers Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The stock’s 50-day moving average is $54.52 and its 200 day moving average is $78.32. The firm has a market cap of $2.54 billion, a P/E ratio of 6.73, a PEG ratio of 3.43 and a beta of 2.20.

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

Insider Transactions at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its holdings in Signet Jewelers by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after acquiring an additional 421 shares during the period. Erste Asset Management GmbH bought a new position in Signet Jewelers in the third quarter valued at approximately $77,000. KBC Group NV increased its stake in Signet Jewelers by 25.5% in the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after acquiring an additional 263 shares during the last quarter. Sterling Capital Management LLC boosted its position in Signet Jewelers by 832.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after buying an additional 1,216 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Signet Jewelers by 32.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after buying an additional 410 shares in the last quarter.

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.