Signet Jewelers (NYSE:SIG) Shares Gap Down Following Insider Selling

Signet Jewelers Limited (NYSE:SIG) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $82.32, but opened at $80.24. Signet Jewelers shares last traded at $80.71, with a volume of 43,669 shares traded.

Specifically, insider Mary Elizabeth Finn sold 8,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. Following the sale, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SIG shares. Telsey Advisory Group reissued a “market perform” rating and set a $105.00 price target on shares of Signet Jewelers in a research report on Wednesday, July 24th. Wells Fargo & Company cut their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Citigroup reaffirmed a “buy” rating and set a $119.00 price target on shares of Signet Jewelers in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average price target of $116.20.

Signet Jewelers Stock Down 1.9 %

The company has a 50 day moving average of $83.49 and a 200 day moving average of $94.40. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 0.83 and a beta of 2.16.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, research analysts forecast that Signet Jewelers Limited will post 10.6 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. Signet Jewelers’s dividend payout ratio is presently 9.43%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Khrom Capital Management LLC acquired a new position in shares of Signet Jewelers during the second quarter worth about $58,357,000. Norges Bank purchased a new stake in shares of Signet Jewelers during the fourth quarter worth about $52,976,000. Eminence Capital LP lifted its stake in shares of Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after acquiring an additional 351,588 shares in the last quarter. Select Equity Group L.P. boosted its holdings in Signet Jewelers by 2.9% in the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after purchasing an additional 193,977 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Signet Jewelers by 38.2% during the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after buying an additional 181,207 shares during the last quarter.

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.