Bank of New York Mellon Corp Cuts Stake in Signet Jewelers Limited (NYSE:SIG)

Bank of New York Mellon Corp trimmed its stake in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 321,945 shares of the company's stock after selling 16,302 shares during the period. Bank of New York Mellon Corp owned 0.75% of Signet Jewelers worth $18,692,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SIG. Versant Capital Management Inc increased its position in Signet Jewelers by 40.5% during the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Signet Jewelers by 2.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,214 shares of the company's stock worth $535,000 after buying an additional 242 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Signet Jewelers by 2.0% in the 1st quarter. Yousif Capital Management LLC now owns 17,087 shares of the company's stock worth $992,000 after purchasing an additional 341 shares in the last quarter. Xponance Inc. boosted its stake in Signet Jewelers by 12.2% in the 4th quarter. Xponance Inc. now owns 3,149 shares of the company's stock worth $254,000 after purchasing an additional 343 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its stake in Signet Jewelers by 14.7% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,788 shares of the company's stock worth $225,000 after purchasing an additional 358 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SIG. Jefferies Financial Group began coverage on shares of Signet Jewelers in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 target price for the company. Citigroup lifted their price objective on shares of Signet Jewelers from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. CL King initiated coverage on shares of Signet Jewelers in a research note on Monday, May 5th. They set a "buy" rating and a $80.00 price objective for the company. Telsey Advisory Group lifted their price objective on shares of Signet Jewelers from $62.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, June 3rd. Finally, Wall Street Zen cut shares of Signet Jewelers from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.14.

Insider Transactions at Signet Jewelers

In related news, Director Helen Mccluskey purchased 1,700 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $58.86 per share, with a total value of $100,062.00. Following the purchase, the director directly owned 31,916 shares in the company, valued at $1,878,575.76. This trade represents a 5.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company's stock.

Signet Jewelers Price Performance

Shares of SIG traded up $4.11 during mid-day trading on Tuesday, reaching $86.49. The stock had a trading volume of 934,375 shares, compared to its average volume of 1,215,487. Signet Jewelers Limited has a 52-week low of $45.55 and a 52-week high of $106.28. The business's fifty day moving average is $75.57 and its 200 day moving average is $63.75. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 94.01, a P/E/G ratio of 0.74 and a beta of 1.39.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.17. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Signet Jewelers Limited will post 8.73 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be issued a $0.32 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.48%. Signet Jewelers's payout ratio is 139.13%.

Signet Jewelers 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.