M&T Bank Corp Makes New Investment in Signet Jewelers Limited $SIG

Key Points

• M&T Bank purchased a new position in Signet Jewelers (NYSE:SIG) of 12,706 shares in Q4, valued at approximately $1.05 million.
• Signet increased its quarterly dividend from $0.32 to $0.35 per share (ex-dividend Apr 24, payable May 22), equal to an annualized $1.40 and a ~1.6% yield.
• Signet reported quarterly EPS of $6.25, beating estimates of $6.11 while revenue fell 0.3% year-over-year; analysts carry a consensus “Moderate Buy” rating with a $112 price target and several firms have raised targets (UBS to $126).

M&T Bank Corp purchased a new position in Signet Jewelers Limited (NYSE:SIG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,706 shares of the company's stock, valued at approximately $1,053,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Signet Jewelers by 1.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,318 shares of the company's stock worth $1,182,000 after purchasing an additional 124 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Signet Jewelers by 48.6% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company's stock worth $31,000 after purchasing an additional 124 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Signet Jewelers by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 20,844 shares of the company's stock worth $1,727,000 after purchasing an additional 138 shares during the period. Amundi boosted its position in shares of Signet Jewelers by 1.9% in the third quarter. Amundi now owns 7,358 shares of the company's stock worth $689,000 after purchasing an additional 140 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Signet Jewelers by 2.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,995 shares of the company's stock worth $562,000 after purchasing an additional 150 shares during the period.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $89.17 on Friday. The firm has a fifty day moving average price of $90.22 and a 200 day moving average price of $92.48. Signet Jewelers Limited has a fifty-two week low of $59.35 and a fifty-two week high of $110.20. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.98 and a beta of 1.25.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, topping analysts' consensus estimates of $6.11 by $0.14. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The firm had revenue of ($4,468.50) million during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business earned $6.62 earnings per share. Signet Jewelers's revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts predict that Signet Jewelers Limited will post 10.3 earnings per share for the current year.

Signet Jewelers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, April 24th will be given a dividend of $0.35 per share. This is a positive change from Signet Jewelers's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, April 24th. Signet Jewelers's dividend payout ratio (DPR) is currently 17.95%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SIG. Wells Fargo & Company upped their price target on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Friday, March 20th. Wall Street Zen lowered shares of Signet Jewelers from a "strong-buy" rating to a "hold" rating in a research report on Sunday, March 22nd. UBS Group upped their price target on shares of Signet Jewelers from $118.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Royal Bank Of Canada upgraded shares of Signet Jewelers to a "hold" rating in a research report on Monday, March 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Signet Jewelers in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.00.

Signet Jewelers Company Profile

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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