Signet Jewelers (NYSE:SIG) Shares Gap Down to $103.14

Signet Jewelers Limited (NYSE:SIG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $103.14, but opened at $97.88. Signet Jewelers shares last traded at $97.22, with a volume of 89,405 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America dropped their target price on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 13th. UBS Group dropped their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Citigroup reaffirmed a “buy” rating and set a $119.00 target price on shares of Signet Jewelers in a research note on Friday, June 14th. StockNews.com raised shares of Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Finally, Telsey Advisory Group reduced their price target on shares of Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Signet Jewelers Stock Performance

The business’s 50 day moving average price is $83.71 and its 200-day moving average price is $92.01. The firm has a market capitalization of $4.20 billion, a PE ratio of 7.90, a P/E/G ratio of 1.13 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $1.55 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts anticipate that Signet Jewelers Limited will post 10.8 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s payout ratio is 9.43%.

Insider Buying and Selling at Signet Jewelers

In other news, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the sale, the chief executive officer now owns 775,345 shares of the company’s stock, valued at $78,829,326.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the sale, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Virginia Drosos sold 3,475 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $101.67, for a total value of $353,303.25. Following the transaction, the chief executive officer now directly owns 775,345 shares of the company’s stock, valued at $78,829,326.15. The disclosure for this sale can be found here. Insiders sold a total of 75,828 shares of company stock valued at $6,698,021 in the last three months. 3.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Signet Jewelers in the 2nd quarter valued at $2,772,000. Coronation Fund Managers Ltd. raised its stake in Signet Jewelers by 35.9% in the second quarter. Coronation Fund Managers Ltd. now owns 44,405 shares of the company’s stock valued at $3,978,000 after buying an additional 11,723 shares in the last quarter. Cetera Investment Advisers raised its stake in Signet Jewelers by 2.2% in the second quarter. Cetera Investment Advisers now owns 11,793 shares of the company’s stock valued at $1,056,000 after buying an additional 257 shares in the last quarter. Truist Financial Corp lifted its holdings in Signet Jewelers by 204.3% during the 2nd quarter. Truist Financial Corp now owns 10,062 shares of the company’s stock worth $901,000 after buying an additional 6,755 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Signet Jewelers by 46.2% during the 2nd quarter. Creative Planning now owns 7,798 shares of the company’s stock worth $699,000 after acquiring an additional 2,464 shares in the last quarter.

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.