Magnetar Financial LLC Acquires New Position in Signet Jewelers Limited (NYSE:SIG)

Magnetar Financial LLC bought a new position in Signet Jewelers Limited (NYSE:SIG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 29,958 shares of the company’s stock, valued at approximately $2,418,000. Magnetar Financial LLC owned 0.07% of Signet Jewelers at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its position in Signet Jewelers by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after purchasing an additional 421 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Signet Jewelers during the third quarter valued at $77,000. KBC Group NV grew its stake in Signet Jewelers by 25.5% during the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after purchasing an additional 263 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Signet Jewelers in the 3rd quarter worth approximately $207,000. Finally, Virtu Financial LLC acquired a new stake in shares of Signet Jewelers in the third quarter worth $210,000.

Wall Street Analyst Weigh In

SIG has been the topic of several analyst reports. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America cut their target price on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group raised their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $55.00 price target on shares of Signet Jewelers in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Insider Transactions at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the transaction, the director now owns 22,752 shares of the company’s stock, valued at $1,231,565.76. This represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $56.31 on Friday. The company’s 50 day simple moving average is $54.89 and its 200-day simple moving average is $78.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. Signet Jewelers Limited has a 1 year low of $45.55 and a 1 year high of $112.06. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.39 by $0.23. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.73 EPS. As a group, equities research analysts expect that Signet Jewelers Limited will post 8.73 earnings per share for the current year.

Signet Jewelers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.27%. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, April 25th. Signet Jewelers’s payout ratio is presently 13.35%.

Signet Jewelers Company Profile

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.