Ritholtz Wealth Management Trims Stake in Signet Jewelers Limited (NYSE:SIG)

Posted by on Mar 31st, 2023

Ritholtz Wealth Management lowered its stake in Signet Jewelers Limited (NYSE:SIG – Get Rating) by 32.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,329 shares of the company’s stock after selling 1,584 shares during the quarter. Ritholtz Wealth Management’s holdings in Signet Jewelers were worth $226,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SIG. Renaissance Technologies LLC purchased a new stake in Signet Jewelers in the 1st quarter valued at approximately $17,484,000. Victory Capital Management Inc. lifted its stake in Signet Jewelers by 15.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,664,585 shares of the company’s stock valued at $95,197,000 after buying an additional 223,235 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Signet Jewelers by 43.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 639,516 shares of the company’s stock valued at $46,494,000 after buying an additional 192,995 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Signet Jewelers in the 3rd quarter valued at $7,552,000. Finally, Goldman Sachs Group Inc. raised its holdings in Signet Jewelers by 20.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 750,431 shares of the company’s stock valued at $54,556,000 after acquiring an additional 127,389 shares during the last quarter. Hedge funds and other institutional investors own 97.88% of the company’s stock.

Signet Jewelers Trading Up 0.4 %

SIG stock opened at $75.30 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.82 and a beta of 2.18. The company has a quick ratio of 0.60, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $74.84 and a 200-day simple moving average of $67.56. Signet Jewelers Limited has a 52 week low of $48.31 and a 52 week high of $83.73.

Signet Jewelers (NYSE:SIG – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.35 by $0.17. Signet Jewelers had a return on equity of 46.64% and a net margin of 4.80%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the firm posted $5.01 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Signet Jewelers Limited will post 11.18 EPS for the current year.

Signet Jewelers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, April 28th will be issued a $0.23 dividend. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, April 27th. Signet Jewelers’s dividend payout ratio is currently 12.68%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SIG shares. StockNews.com started coverage on Signet Jewelers in a report on Thursday, March 16th. They issued a “buy” rating for the company. Bank of America boosted their price target on Signet Jewelers from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, December 7th. UBS Group boosted their price target on Signet Jewelers from $92.00 to $98.00 in a report on Friday, March 17th. Citigroup boosted their price target on Signet Jewelers from $77.00 to $82.00 in a report on Monday, March 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 price target on shares of Signet Jewelers in a report on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Insider Activity at Signet Jewelers

In related news, insider Joan M. Hilson sold 10,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $70.72, for a total value of $707,200.00. Following the completion of the sale, the insider now directly owns 258,065 shares in the company, valued at approximately $18,250,356.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Signet Jewelers news, insider Stash Ptak sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the insider now directly owns 34,333 shares of the company’s stock, valued at approximately $2,574,975. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joan M. Hilson sold 10,000 shares of the company’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $70.72, for a total transaction of $707,200.00. Following the completion of the transaction, the insider now directly owns 258,065 shares of the company’s stock, valued at $18,250,356.80. The disclosure for this sale can be found here. In the last three months, insiders sold 53,193 shares of company stock worth $3,923,935. Corporate insiders own 1.76% of the company’s stock.

About Signet Jewelers

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.

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Institutional Ownership by Quarter for Signet Jewelers (NYSE:SIG)

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