UBS Group Cuts Signet Jewelers (NYSE:SIG) Price Target to $132.00

Signet Jewelers (NYSE:SIG) had its price objective lowered by UBS Group from $145.00 to $132.00 in a research report released on Wednesday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently commented on SIG. Wells Fargo & Company lowered 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, August 27th. Telsey Advisory Group lowered their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a market perform rating for the company in a research report on Monday, September 9th. StockNews.com downgraded shares of Signet Jewelers from a buy rating to a hold rating in a research report on Wednesday, September 4th. Finally, Citigroup reissued a buy rating and set a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $108.60.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $91.15 on Wednesday. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06. The company has a market capitalization of $4.07 billion, a PE ratio of 7.41, a PEG ratio of 0.85 and a beta of 2.10. The company has a 50 day moving average price of $81.40 and a two-hundred day moving average price of $92.16.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The business’s quarterly revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Signet Jewelers will post 10.47 earnings per share for the current year.

Signet Jewelers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio (DPR) is currently 9.43%.

Insider Activity at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the completion of the transaction, the insider now owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the completion of the transaction, the insider now owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rebecca Wooters sold 3,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $90.34, for a total transaction of $271,020.00. Following the completion of the transaction, the insider now directly owns 90,494 shares of the company’s stock, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,439 shares of company stock valued at $4,809,869. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Large investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in Signet Jewelers in the second quarter valued at $51,000. Hexagon Capital Partners LLC lifted its stake in Signet Jewelers by 33.4% in the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after acquiring an additional 175 shares during the last quarter. Blue Trust Inc. lifted its stake in Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after acquiring an additional 544 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Signet Jewelers in the second quarter valued at $180,000.

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.