Signet Jewelers Target of Unusually Large Options Trading (NYSE:SIG)

Signet Jewelers Limited (NYSE:SIG - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders bought 2,674 call options on the stock. This is an increase of 21% compared to the average volume of 2,209 call options.

Signet Jewelers Stock Performance

SIG traded up $9.36 during midday trading on Wednesday, hitting $104.43. The stock had a trading volume of 1,881,236 shares, compared to its average volume of 735,071. The company has a market cap of $4.63 billion, a P/E ratio of 7.14, a price-to-earnings-growth ratio of 1.28 and a beta of 2.13. The business has a fifty day moving average of $100.19 and a 200 day moving average of $90.01. Signet Jewelers has a 1 year low of $57.10 and a 1 year high of $108.79.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $0.40. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.55 billion. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. Signet Jewelers's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.52 earnings per share. On average, equities research analysts anticipate that Signet Jewelers will post 9.65 earnings per share for the current year.

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, April 25th. This is a positive change from Signet Jewelers's previous quarterly dividend of $0.23. Signet Jewelers's dividend payout ratio is 6.14%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SIG. UBS Group decreased their price target on Signet Jewelers from $138.00 to $134.00 and set a "buy" rating on the stock in a research report on Tuesday, March 19th. Telsey Advisory Group decreased their price objective on shares of Signet Jewelers from $105.00 to $100.00 and set a "market perform" rating on the stock in a research report on Thursday, March 21st. Citigroup upgraded shares of Signet Jewelers from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $93.00 to $119.00 in a research report on Wednesday, December 6th. Wells Fargo & Company upped their price objective on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, December 22nd. Finally, Bank of America decreased their price objective on shares of Signet Jewelers from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, March 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $114.60.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, CEO Virginia Drosos sold 35,000 shares of the company's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $95.93, for a total transaction of $3,357,550.00. Following the sale, the chief executive officer now directly owns 932,740 shares of the company's stock, valued at $89,477,748.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Mary Elizabeth Finn sold 5,431 shares of the company's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $89.53, for a total transaction of $486,237.43. Following the sale, the insider now directly owns 60,416 shares in the company, valued at $5,409,044.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Virginia Drosos sold 35,000 shares of the company's stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $95.93, for a total value of $3,357,550.00. Following the sale, the chief executive officer now owns 932,740 shares in the company, valued at $89,477,748.20. The disclosure for this sale can be found here. Insiders have sold a total of 92,435 shares of company stock valued at $8,987,931 over the last three months. 4.54% of the stock is currently owned by insiders.

Institutional Trading of Signet Jewelers

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Signet Jewelers by 5.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company's stock valued at $303,000 after purchasing an additional 156 shares during the period. Virtu Financial LLC bought a new position in Signet Jewelers during the 4th quarter valued at approximately $913,000. Price T Rowe Associates Inc. MD lifted its holdings in Signet Jewelers by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,256 shares of the company's stock worth $3,782,000 after buying an additional 1,336 shares during the period. Legal & General Group Plc lifted its holdings in Signet Jewelers by 0.4% in the 4th quarter. Legal & General Group Plc now owns 125,004 shares of the company's stock worth $13,408,000 after buying an additional 454 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Signet Jewelers by 3.0% in the 4th quarter. Voya Investment Management LLC now owns 30,325 shares of the company's stock worth $3,253,000 after buying an additional 885 shares during the last quarter.

Signet Jewelers Company 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.