Russell Investments Group Ltd. Sells 1,009 Shares of Signet Jewelers Limited (NYSE:SIG)

Posted by Defense World Staff on May 13th, 2023

Russell Investments Group Ltd. decreased its stake in shares of Signet Jewelers Limited (NYSE:SIG – Get Rating) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 143,141 shares of the company’s stock after selling 1,009 shares during the period. Russell Investments Group Ltd. owned 0.32% of Signet Jewelers worth $9,734,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SIG. Arizona State Retirement System boosted its holdings in Signet Jewelers by 1.9% in the 4th quarter. Arizona State Retirement System now owns 13,125 shares of the company’s stock valued at $892,000 after purchasing an additional 247 shares during the period. Duality Advisers LP acquired a new position in shares of Signet Jewelers in the 4th quarter valued at approximately $2,673,000. Murphy Pohlad Asset Management LLC raised its position in shares of Signet Jewelers by 9.8% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 19,075 shares of the company’s stock valued at $1,297,000 after buying an additional 1,700 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Signet Jewelers by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 416,452 shares of the company’s stock valued at $28,319,000 after buying an additional 75,959 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Signet Jewelers by 22.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 965 shares of the company’s stock valued at $66,000 after buying an additional 177 shares in the last quarter. Institutional investors own 97.88% of the company’s stock.

Insider Activity

In other news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.62, for a total transaction of $736,200.00. Following the sale, the chief executive officer now owns 925,305 shares in the company, valued at approximately $68,120,954.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jamie Singleton sold 17,500 shares of the company’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 in the company, valued at approximately $16,884,480. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $73.62, for a total value of $736,200.00. Following the completion of the transaction, the chief executive officer now directly owns 925,305 shares of the company’s stock, valued at approximately $68,120,954.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,693 shares of company stock worth $5,264,435. Corporate insiders own 4.54% of the company’s stock.

Signet Jewelers Stock Performance

SIG opened at $72.18 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $73.26 and its two-hundred day moving average price is $70.98. Signet Jewelers Limited has a 1-year low of $48.31 and a 1-year high of $83.42. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.79 and a beta of 2.14.

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

Signet Jewelers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, April 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 27th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.20. Signet Jewelers’s payout ratio is 14.58%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SIG shares. StockNews.com started coverage on shares of Signet Jewelers in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Citigroup upped their price objective on shares of Signet Jewelers from $77.00 to $82.00 in a research report on Monday, March 20th. Telsey Advisory Group upped their price objective on shares of Signet Jewelers from $75.00 to $85.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Wells Fargo & Company upped their price objective on shares of Signet Jewelers from $90.00 to $100.00 in a research report on Friday, March 17th. Finally, UBS Group upped their price objective on shares of Signet Jewelers from $92.00 to $98.00 in a research report on Friday, March 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.00.

Signet Jewelers Company 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.