Empowered Funds LLC Grows Stock Holdings in Signet Jewelers Limited $SIG

Key Points

• Empowered Funds LLC increased its Signet Jewelers stake by 11.9% in the first quarter, holding 156,800 shares valued at approximately $13.3 million. Several other institutional investors also raised their positions.
• Analysts maintain a generally positive outlook, with Signet receiving a consensus “Moderate Buy” rating and an average price target of $112.00; individual targets range from $105 to $130.
• Signet exceeded quarterly earnings expectations, reporting $1.56 in EPS versus the $1.38 consensus estimate, and announced a quarterly dividend of $0.35, representing a 1.4% annualized yield.

Empowered Funds LLC increased its position in Signet Jewelers Limited (NYSE:SIG - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 156,800 shares of the company's stock after buying an additional 16,665 shares during the period. Empowered Funds LLC owned about 0.40% of Signet Jewelers worth $13,272,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SIG. Bessemer Group Inc. boosted its stake in shares of Signet Jewelers by 18.5% in the first quarter. Bessemer Group Inc. now owns 76,274 shares of the company's stock worth $6,456,000 after acquiring an additional 11,926 shares during the period. Principal Financial Group Inc. grew its position in shares of Signet Jewelers by 35.9% during the first quarter. Principal Financial Group Inc. now owns 265,235 shares of the company's stock worth $22,449,000 after purchasing an additional 70,110 shares in the last quarter. UBS Group AG grew its position in shares of Signet Jewelers by 185.4% during the fourth quarter. UBS Group AG now owns 545,140 shares of the company's stock worth $45,181,000 after purchasing an additional 354,108 shares in the last quarter. M&T Bank Corp bought a new stake in Signet Jewelers during the 4th quarter valued at approximately $1,053,000. Finally, Illinois Municipal Retirement Fund raised its stake in Signet Jewelers by 28.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 100,339 shares of the company's stock valued at $8,493,000 after purchasing an additional 22,120 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens restated an "overweight" rating and issued a $130.00 price target on shares of Signet Jewelers in a research note on Friday, May 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Signet Jewelers in a report on Monday, July 6th. Zacks Research upgraded shares of Signet Jewelers from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Raymond James Financial started coverage on shares of Signet Jewelers in a research report on Thursday, July 23rd. They set an "outperform" rating and a $105.00 target price for the company. Finally, Citigroup raised their target price on shares of Signet Jewelers from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $112.00.

Signet Jewelers Trading Up 0.8%

Shares of Signet Jewelers stock opened at $98.85 on Thursday. The stock has a 50 day moving average of $86.88 and a 200 day moving average of $88.64. Signet Jewelers Limited has a 12 month low of $71.61 and a 12 month high of $110.20. The firm has a market cap of $3.89 billion, a PE ratio of 13.86, a PEG ratio of 1.02 and a beta of 1.15.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, beating 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 analysts' expectations of $1.55 billion. During the same quarter last year, the business posted $1.18 EPS. The firm's revenue for the quarter 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 forecast that Signet Jewelers Limited will post 10.65 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 24th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. Signet Jewelers's dividend payout ratio (DPR) is 19.64%.

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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