Amalgamated Bank Has $1.43 Million Stake in Signet Jewelers Limited (NYSE:SIG)

Posted by Defense World Staff on Jun 6th, 2023

Amalgamated Bank trimmed its holdings in Signet Jewelers Limited (NYSE:SIG – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,049 shares of the company’s stock after selling 205 shares during the period. Amalgamated Bank’s holdings in Signet Jewelers were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Signet Jewelers by 0.5% in the first quarter. Vanguard Group Inc. now owns 6,181,170 shares of the company’s stock valued at $449,370,000 after buying an additional 31,035 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Signet Jewelers by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,388,543 shares of the company’s stock worth $136,597,000 after purchasing an additional 13,848 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Signet Jewelers by 10.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,843,906 shares of the company’s stock worth $125,386,000 after purchasing an additional 179,321 shares during the last quarter. State Street Corp lifted its position in shares of Signet Jewelers by 2.5% during the 1st quarter. State Street Corp now owns 1,769,053 shares of the company’s stock valued at $128,610,000 after acquiring an additional 42,874 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Signet Jewelers by 20.4% during the first quarter. Goldman Sachs Group Inc. now owns 750,431 shares of the company’s stock valued at $54,556,000 after purchasing an additional 127,389 shares in the last quarter. 97.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Signet Jewelers from $92.00 to $98.00 in a research note on Friday, March 17th. Wells Fargo & Company upped their price objective on shares of Signet Jewelers from $90.00 to $100.00 in a report on Friday, March 17th. StockNews.com started coverage on shares of Signet Jewelers in a report on Thursday, May 18th. They set a “buy” rating on the stock. Citigroup upped their price objective on shares of Signet Jewelers from $77.00 to $82.00 in a report on Monday, March 20th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $88.00.

Signet Jewelers Stock Performance

NYSE SIG opened at $64.19 on Tuesday. Signet Jewelers Limited has a 1 year low of $50.84 and a 1 year high of $83.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.60. The stock has a market capitalization of $2.90 billion, a PE ratio of 10.17, a P/E/G ratio of 0.73 and a beta of 2.14. The company’s 50 day simple moving average is $72.24 and its two-hundred day simple moving average is $71.67.

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

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, April 28th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.92 annualized dividend and a dividend yield of 1.43%. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.20. Signet Jewelers’s dividend payout ratio (DPR) is 14.58%.

Insider Activity

In related news, insider Jamie Singleton sold 17,500 shares of the stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $80.00, for a total transaction 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 SEC, which is available through the SEC website. In related news, insider Jamie Singleton sold 17,500 shares of the stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $80.00, for a total transaction 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 SEC, which is available through the SEC website. Also, insider Stash Ptak sold 2,193 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $75.62, for a total transaction of $165,834.66. Following the transaction, the insider now directly owns 33,577 shares in the company, valued at approximately $2,539,092.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,693 shares of company stock worth $5,231,135. 4.54% of the stock is currently owned by corporate insiders.

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.