Raymond James Financial Services Advisors Inc. Decreases Holdings in Signet Jewelers Limited (NYSE:SIG)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Signet Jewelers Limited (NYSE:SIG) by 33.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,311 shares of the company’s stock after selling 2,612 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Signet Jewelers were worth $570,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC increased its stake in shares of Signet Jewelers by 67.9% in the first quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock worth $31,000 after buying an additional 163 shares during the period. Quarry LP increased its stake in shares of Signet Jewelers by 274.1% in the first quarter. Quarry LP now owns 404 shares of the company’s stock worth $31,000 after buying an additional 296 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of Signet Jewelers by 187.2% in the third quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock worth $35,000 after buying an additional 322 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Signet Jewelers in the first quarter worth $51,000. Finally, Lazard Asset Management LLC increased its stake in shares of Signet Jewelers by 17.0% in the third quarter. Lazard Asset Management LLC now owns 1,374 shares of the company’s stock worth $98,000 after buying an additional 200 shares during the period.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Bank of America cut their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Telsey Advisory Group lifted their price target on shares of Signet Jewelers from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Finally, 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 report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Signet Jewelers has a consensus rating of “Hold” and an average target price of $120.20.

Insider Activity

In related news, CEO Virginia Drosos sold 10,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $99.85, for a total value of $998,500.00. Following the transaction, the chief executive officer now owns 922,740 shares in the company, valued at approximately $92,135,589. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Virginia Drosos sold 10,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $99.85, for a total value of $998,500.00. Following the transaction, the chief executive officer now owns 922,740 shares in the company, valued at approximately $92,135,589. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director H. Todd Stitzer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $102.41, for a total transaction of $512,050.00. Following the completion of the transaction, the director now owns 56,678 shares in the company, valued at approximately $5,804,393.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,254 shares of company stock worth $5,558,494. Corporate insiders own 4.54% of the company’s stock.

Signet Jewelers Trading Down 2.6 %

Shares of SIG stock opened at $93.96 on Friday. Signet Jewelers Limited has a 12 month low of $57.10 and a 12 month high of $109.17. The stock has a market cap of $4.16 billion, a PE ratio of 6.27, a price-to-earnings-growth ratio of 1.14 and a beta of 2.13. The company’s fifty day moving average price is $100.20 and its 200-day moving average price is $92.01.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Wednesday, March 20th. The company reported $6.73 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $0.40. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business posted $5.52 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Signet Jewelers Limited will post 10.6 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, April 25th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.23. Signet Jewelers’s payout ratio is 6.14%.

About Signet Jewelers

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.