Weiss Asset Management LP Takes $1.44 Million Position in Signet Jewelers Limited $SIG

Weiss Asset Management LP bought a new stake in shares of Signet Jewelers Limited (NYSE:SIG) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,980 shares of the company’s stock, valued at approximately $1,437,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SIG. Royal Bank of Canada increased its position in Signet Jewelers by 87.2% during the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock valued at $1,020,000 after purchasing an additional 8,183 shares during the period. Goldman Sachs Group Inc. raised its holdings in Signet Jewelers by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after purchasing an additional 213,365 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Signet Jewelers by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock worth $7,117,000 after purchasing an additional 10,964 shares during the period. Prudential Financial Inc. lifted its position in shares of Signet Jewelers by 55.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,935 shares of the company’s stock worth $472,000 after purchasing an additional 2,116 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Signet Jewelers by 171.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company’s stock valued at $54,000 after purchasing an additional 428 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SIG shares. Citigroup increased their price target on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. UBS Group reduced their target price on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Signet Jewelers in a research report on Monday, July 6th. Royal Bank Of Canada upgraded Signet Jewelers to a “hold” rating in a research report on Monday, March 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Signet Jewelers in a research note on Friday, May 29th. One research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.00.

Signet Jewelers Price Performance

Shares of NYSE SIG opened at $95.68 on Tuesday. Signet Jewelers Limited has a 1 year low of $71.61 and a 1 year high of $110.20. The firm has a 50-day moving average of $86.00 and a 200 day moving average of $88.53. The stock has a market cap of $3.76 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.15.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Research analysts expect that Signet Jewelers Limited will post 10.65 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 24th will be paid a $0.35 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Signet Jewelers’s dividend payout ratio is presently 19.64%.

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.