PNC Financial Services Group Inc. Grows Stake in Signet Jewelers Limited (NYSE:SIG)

PNC Financial Services Group Inc. increased its holdings in Signet Jewelers Limited (NYSE:SIG) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,824 shares of the company’s stock after purchasing an additional 156 shares during the period. PNC Financial Services Group Inc.’s holdings in Signet Jewelers were worth $303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its holdings in shares of Signet Jewelers by 37.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after purchasing an additional 127 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Signet Jewelers during the 4th quarter valued at approximately $64,000. Quadrant Capital Group LLC boosted its position in shares of Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock valued at $164,000 after acquiring an additional 544 shares during the last quarter. Greenleaf Trust bought a new stake in Signet Jewelers in the fourth quarter worth $202,000. Finally, Channel Wealth LLC purchased a new stake in Signet Jewelers during the fourth quarter valued at $215,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SIG shares. Telsey Advisory Group restated a “market perform” rating and set a $110.00 price objective on shares of Signet Jewelers in a research report on Thursday, June 13th. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Citigroup reissued a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. UBS Group lifted their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company increased their price objective on Signet Jewelers from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $89.58 on Monday. Signet Jewelers Limited has a 1 year low of $64.01 and a 1 year high of $112.06. The firm has a market capitalization of $4.00 billion, a P/E ratio of 7.28, a P/E/G ratio of 0.96 and a beta of 2.12. The business’s 50-day moving average is $98.66 and its 200 day moving average is $99.87.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, June 13th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. Signet Jewelers’s revenue was down 9.4% compared to the same quarter last year. On average, analysts expect that Signet Jewelers Limited will post 10.6 EPS for the current year.

Signet Jewelers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, July 26th. Signet Jewelers’s payout ratio is 9.43%.

Insider Buying and Selling

In other news, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the sale, the insider now directly owns 189,231 shares of the company’s stock, valued at approximately $17,373,298.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Signet Jewelers news, insider Rebecca Wooters sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $90.34, for a total value of $271,020.00. Following the sale, the insider now owns 90,494 shares in the company, valued at approximately $8,175,227.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total transaction of $734,480.00. Following the transaction, the insider now directly owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock valued at $2,925,010 over the last quarter. 3.26% of the stock is currently owned by company insiders.

Signet Jewelers 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.