Pallas Capital Advisors LLC Takes Position in Signet Jewelers Limited $SIG

Key Points

• Pallas Capital Advisors LLC acquired a new position in Signet Jewelers, purchasing 3,444 shares valued at approximately $274,000.
• Signet posted $1.61 earnings per share in its last quarterly report, exceeding analysts' expectations of $1.21.
• The company announced a quarterly dividend of $0.32, with a dividend yield of 1.3%, scheduled for payment on November 21st.

Pallas Capital Advisors LLC purchased a new position in shares of Signet Jewelers Limited (NYSE:SIG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,444 shares of the company's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SIG. Charles Schwab Investment Management Inc. grew its holdings in shares of Signet Jewelers by 175.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company's stock worth $107,963,000 after buying an additional 1,183,214 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Signet Jewelers by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock worth $302,258,000 after buying an additional 389,852 shares during the last quarter. Nuveen LLC purchased a new position in shares of Signet Jewelers during the first quarter worth about $21,646,000. Brown Advisory Inc. grew its holdings in shares of Signet Jewelers by 35.2% during the first quarter. Brown Advisory Inc. now owns 846,927 shares of the company's stock worth $49,173,000 after buying an additional 220,610 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Signet Jewelers by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company's stock worth $49,333,000 after buying an additional 213,365 shares during the last quarter.

Signet Jewelers Trading Down 0.8%

Shares of NYSE:SIG traded down $0.80 during trading on Monday, hitting $95.07. 718,437 shares of the stock were exchanged, compared to its average volume of 1,117,368. The company has a fifty day moving average price of $85.18 and a two-hundred day moving average price of $72.57. The company has a market cap of $3.89 billion, a PE ratio of 31.90, a P/E/G ratio of 1.09 and a beta of 1.18. Signet Jewelers Limited has a 12-month low of $45.55 and a 12-month high of $106.28.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings results on Tuesday, September 2nd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.21 by $0.40. Signet Jewelers had a return on equity of 23.42% and a net margin of 1.95%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. Signet Jewelers has set its FY 2026 guidance at 8.040-9.570 EPS. Q3 2026 guidance at EPS. Equities research analysts anticipate that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, October 24th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, October 24th. Signet Jewelers's payout ratio is currently 42.95%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SIG. Telsey Advisory Group reissued a "market perform" rating and set a $92.00 price target on shares of Signet Jewelers in a report on Tuesday, September 2nd. Jefferies Financial Group began coverage on Signet Jewelers in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price objective on the stock. Bank of America lifted their price objective on Signet Jewelers from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Citigroup lifted their price objective on Signet Jewelers from $100.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company reaffirmed a "cautious" rating on shares of Signet Jewelers in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Signet Jewelers has a consensus rating of "Hold" and a consensus price target of $97.71.

About Signet Jewelers

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.