Grace & White Inc. NY Has $6.91 Million Stake in Signet Jewelers Ltd. (SIG)
Grace & White Inc. NY increased its stake in Signet Jewelers Ltd. (NYSE:SIG) by 12.8% during the 1st quarter, HoldingsChannel reports. The fund owned 254,530 shares of the company’s stock after purchasing an additional 28,810 shares during the quarter. Signet Jewelers makes up approximately 1.6% of Grace & White Inc. NY’s investment portfolio, making the stock its 21st biggest position. Grace & White Inc. NY’s holdings in Signet Jewelers were worth $6,913,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SIG. Martingale Asset Management L P increased its holdings in Signet Jewelers by 138.6% in the third quarter. Martingale Asset Management L P now owns 12,406 shares of the company’s stock valued at $818,000 after buying an additional 7,206 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Signet Jewelers in the third quarter valued at $442,000. JPMorgan Chase & Co. increased its holdings in Signet Jewelers by 95.6% in the third quarter. JPMorgan Chase & Co. now owns 542,140 shares of the company’s stock valued at $35,744,000 after buying an additional 265,018 shares during the last quarter. Deutsche Bank AG increased its holdings in Signet Jewelers by 32.8% in the third quarter. Deutsche Bank AG now owns 293,595 shares of the company’s stock valued at $19,354,000 after buying an additional 72,563 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in Signet Jewelers in the third quarter valued at $701,000.
Several equities analysts recently commented on SIG shares. Zacks Investment Research lowered Signet Jewelers from a “hold” rating to a “strong sell” rating in a report on Saturday, January 26th. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price (down previously from $40.00) on shares of Signet Jewelers in a report on Friday, January 18th. Citigroup lowered Signet Jewelers from a “neutral” rating to a “sell” rating and set a $24.76 target price on the stock. in a report on Friday, January 18th. Nomura dropped their target price on Signet Jewelers to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 18th. Finally, Wells Fargo & Co dropped their target price on Signet Jewelers from $42.00 to $38.00 and set a “market perform” rating on the stock in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.97.
Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, April 3rd. The company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.19. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Signet Jewelers had a positive return on equity of 14.34% and a negative net margin of 10.65%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.28 earnings per share. As a group, research analysts predict that Signet Jewelers Ltd. will post 3.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend is Thursday, May 2nd. Signet Jewelers’s payout ratio is 39.78%.
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Signet Jewelers Profile
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.
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