Bessemer Group Inc. Buys 11,926 Shares of Signet Jewelers Limited $SIG

Key Points

• Bessemer Group Inc. increased its stake in Signet Jewelers by 18.5% in the first quarter, buying 11,926 additional shares and bringing its total holdings to 76,274 shares worth about $6.46 million.
• Several other institutions also adjusted their positions, including UBS Group AG, which sharply increased its stake, while multiple funds initiated new positions in the jewelry retailer.
• Signet Jewelers reported stronger-than-expected quarterly earnings of $1.56 per share, and the company also announced a quarterly dividend of $0.35 per share, implying a 1.5% annualized yield.

Bessemer Group Inc. lifted its stake in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,274 shares of the company's stock after purchasing an additional 11,926 shares during the quarter. Bessemer Group Inc. owned about 0.19% of Signet Jewelers worth $6,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. UBS Group AG boosted its holdings in Signet Jewelers by 185.4% in the fourth quarter. UBS Group AG now owns 545,140 shares of the company's stock worth $45,181,000 after acquiring an additional 354,108 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Signet Jewelers during the fourth quarter valued at approximately $1,053,000. Moody Aldrich Partners LLC bought a new stake in shares of Signet Jewelers during the fourth quarter valued at approximately $3,398,000. Illinois Municipal Retirement Fund raised its position in shares of Signet Jewelers by 28.3% during the first quarter. Illinois Municipal Retirement Fund now owns 100,339 shares of the company's stock worth $8,493,000 after purchasing an additional 22,120 shares during the period. Finally, Ruffer LLP acquired a new position in shares of Signet Jewelers during the fourth quarter worth approximately $15,372,000.

Analysts Set New Price Targets

SIG has been the topic of a number of recent research reports. UBS Group cut their target price on Signet Jewelers from $126.00 to $121.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Citigroup upped their price objective on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Signet Jewelers in a report on Monday, July 6th. Royal Bank Of Canada raised shares of Signet Jewelers to a "hold" rating in a research note on Monday, March 30th. Finally, Stephens reiterated an "overweight" rating and set a $130.00 price objective on shares of Signet Jewelers in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Signet Jewelers has an average rating of "Moderate Buy" and a consensus price target of $112.88.

Signet Jewelers Stock Down 0.1%

Shares of NYSE:SIG opened at $91.57 on Monday. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.96 and a beta of 1.15. Signet Jewelers Limited has a 12-month low of $71.61 and a 12-month high of $110.20. The business's 50 day moving average is $84.44 and its 200 day moving average is $88.31.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. Signet Jewelers's revenue was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, equities research analysts expect that Signet Jewelers Limited will post 10.57 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be issued a $0.35 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Signet Jewelers's dividend payout ratio is currently 13.46%.

About Signet Jewelers

Signet Jewelers Ltd is the world's largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company's product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.

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