OLD National Bancorp IN Sells 1,248 Shares of Signet Jewelers Limited (NYSE:SIG)

Posted by Defense World Staff on Apr 26th, 2023

OLD National Bancorp IN reduced its position in shares of Signet Jewelers Limited (NYSE:SIG – Get Rating) by 20.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,002 shares of the company’s stock after selling 1,248 shares during the quarter. OLD National Bancorp IN’s holdings in Signet Jewelers were worth $340,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ronald Blue Trust Inc. grew its stake in shares of Signet Jewelers by 81.6% during the 4th quarter. Ronald Blue Trust Inc. now owns 514 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Signet Jewelers by 342.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 766 shares of the company’s stock valued at $44,000 after buying an additional 593 shares in the last quarter. Repertoire Partners LP purchased a new position in shares of Signet Jewelers during the 3rd quarter valued at about $57,000. Focused Wealth Management Inc purchased a new position in shares of Signet Jewelers during the 3rd quarter valued at about $66,000. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Signet Jewelers during the 3rd quarter valued at about $81,000. 97.88% of the stock is currently owned by institutional investors.

Signet Jewelers Stock Performance

NYSE SIG opened at $74.00 on Wednesday. The company has a market cap of $3.35 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.86 and a beta of 2.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.60 and a current ratio of 1.56. The business’s 50 day moving average price is $74.12 and its 200-day moving average price is $70.00. Signet Jewelers Limited has a fifty-two week low of $48.31 and a fifty-two week high of $83.42.

Signet Jewelers (NYSE:SIG – Get Rating) last released its earnings results on Thursday, March 16th. The company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.35 by $0.17. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.65 billion. Signet Jewelers had a return on equity of 46.64% and a net margin of 4.80%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.01 EPS. Sell-side analysts predict that Signet Jewelers Limited will post 11.18 earnings per share for the current year.

Signet Jewelers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, April 28th will be paid a $0.23 dividend. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.24%. Signet Jewelers’s dividend payout ratio (DPR) is presently 12.68%.

Insiders Place Their Bets

In related news, insider Jamie Singleton sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $80.00, for a total value of $1,400,000.00. Following the transaction, the insider now owns 211,056 shares of the company’s stock, valued at approximately $16,884,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Oded Edelman sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $73.14, for a total value of $731,400.00. Following the transaction, the insider now owns 55,398 shares of the company’s stock, valued at approximately $4,051,809.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jamie Singleton sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $80.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the insider now directly owns 211,056 shares in the company, valued at approximately $16,884,480. The disclosure for this sale can be found here. Insiders have sold a total of 69,693 shares of company stock worth $5,264,435 over the last quarter. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

SIG has been the topic of a number of research analyst reports. Citigroup boosted their price target on Signet Jewelers from $77.00 to $82.00 in a report on Monday, March 20th. Wells Fargo & Company boosted their price target on Signet Jewelers from $90.00 to $100.00 in a report on Friday, March 17th. StockNews.com initiated coverage on Signet Jewelers in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. UBS Group lifted their price objective on Signet Jewelers from $92.00 to $98.00 in a research note on Friday, March 17th. Finally, Telsey Advisory Group lifted their price objective on Signet Jewelers from $75.00 to $85.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Signet Jewelers presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Signet Jewelers Profile

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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.