Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Signet Jewelers Limited (NYSE:SIG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired 106,654 shares of Signet Jewelers Limited, valued at approximately $6.19 million, increasing their ownership to 0.25% as of the latest SEC filing.
• Multiple institutional investors have significantly increased their stakes in Signet Jewelers, with Anomaly Capital Management LP raising its position by 862.5% in the fourth quarter.
• Analysts have recently upgraded Signet Jewelers' stock ratings, with several brokerages setting higher price targets, reflecting a consensus rating of "Moderate Buy" and a target price of $88.86.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 106,654 shares of the company's stock, valued at approximately $6,192,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Signet Jewelers as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SIG. Allworth Financial LP raised its position in Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company's stock worth $29,000 after acquiring an additional 445 shares during the period. Headlands Technologies LLC bought a new position in Signet Jewelers in the first quarter worth approximately $36,000. Versant Capital Management Inc raised its position in Signet Jewelers by 40.5% in the first quarter. Versant Capital Management Inc now owns 773 shares of the company's stock worth $45,000 after acquiring an additional 223 shares during the period. Byrne Asset Management LLC bought a new position in Signet Jewelers in the first quarter worth approximately $45,000. Finally, Signaturefd LLC raised its position in shares of Signet Jewelers by 174.1% during the 1st quarter. Signaturefd LLC now owns 943 shares of the company's stock valued at $55,000 after purchasing an additional 599 shares during the period.

Signet Jewelers Trading Down 0.5%

Shares of NYSE SIG traded down $0.43 during midday trading on Thursday, reaching $82.85. The company had a trading volume of 605,714 shares, compared to its average volume of 801,278. The business's 50-day simple moving average is $80.46 and its 200 day simple moving average is $65.66. The stock has a market cap of $3.41 billion, a P/E ratio of 90.06, a P/E/G ratio of 0.75 and a beta of 1.40. Signet Jewelers Limited has a 1 year low of $45.55 and a 1 year high of $106.28.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.17. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $1.11 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that Signet Jewelers Limited will post 8.73 earnings per share for the current year.

Signet Jewelers Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.5%. Signet Jewelers's dividend payout ratio is presently 139.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SIG. Bank of America raised their price objective on shares of Signet Jewelers from $65.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Telsey Advisory Group lifted their price objective on shares of Signet Jewelers from $80.00 to $92.00 and gave the stock a "market perform" rating in a research note on Friday, July 25th. UBS Group raised their target price on shares of Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Signet Jewelers from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Signet Jewelers in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Signet Jewelers presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.86.

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.