Signet Jewelers Limited $SIG Shares Bought by UBS Group AG

Key Points

• UBS Group AG increased its stake in Signet by 185.4% in Q4, buying 354,108 shares to hold 545,140 shares (about 1.34% of the company) valued at roughly $45.18 million.
• Analyst views are mixed but overall favorable: the consensus rating is a Moderate Buy with a $116 price target, while broker actions range from Hold to Strong Buy (Goldman Sachs upgraded to Strong Buy).
• Signet beat Q results with $6.25 EPS (vs. $6.11 est.) despite a slight revenue decline, the stock is up ~6.9%, and the company raised its quarterly dividend to $0.35 ($1.40 annualized, ~1.6% yield).

UBS Group AG raised its holdings in Signet Jewelers Limited (NYSE:SIG - Free Report) by 185.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 545,140 shares of the company's stock after purchasing an additional 354,108 shares during the period. UBS Group AG owned 1.34% of Signet Jewelers worth $45,181,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SIG. American Century Companies Inc. lifted its stake in Signet Jewelers by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 1,592,735 shares of the company's stock valued at $152,775,000 after buying an additional 174,873 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Signet Jewelers by 212.2% in the third quarter. JPMorgan Chase & Co. now owns 500,589 shares of the company's stock worth $48,016,000 after acquiring an additional 340,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Signet Jewelers by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,346,165 shares of the company's stock valued at $225,046,000 after acquiring an additional 43,925 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Signet Jewelers by 163.4% during the third quarter. Segall Bryant & Hamill LLC now owns 34,919 shares of the company's stock valued at $3,349,000 after acquiring an additional 21,660 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. purchased a new stake in Signet Jewelers during the 3rd quarter worth about $47,837,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SIG shares. Wells Fargo & Company upped their target price on shares of Signet Jewelers from $90.00 to $100.00 and gave the company an "equal weight" rating in a 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. Wall Street Zen downgraded Signet Jewelers from a "strong-buy" rating to a "hold" rating in a report on Sunday, March 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Signet Jewelers in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group upgraded Signet Jewelers from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.00.

Signet Jewelers Stock Up 6.9%

NYSE:SIG opened at $87.69 on Thursday. Signet Jewelers Limited has a fifty-two week low of $61.50 and a fifty-two week high of $110.20. The firm's 50 day moving average is $89.76 and its two-hundred day moving average is $92.10. The company has a market cap of $3.51 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.95 and a beta of 1.20.

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

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, April 24th will be paid a dividend of $0.35 per share. This is a boost from Signet Jewelers's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, April 24th. Signet Jewelers's payout ratio is currently 17.95%.

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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