Investors Purchase High Volume of Call Options on Signet Jewelers (NYSE:SIG)

Signet Jewelers Limited (NYSE:SIG) was the target of some unusual options trading activity on Monday. Stock traders acquired 13,903 call options on the company. This represents an increase of 515% compared to the average volume of 2,260 call options.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SIG. Wall Street Zen cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd. The Goldman Sachs Group upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. UBS Group raised their price target on shares of Signet Jewelers from $118.00 to $126.00 and gave the company a “buy” rating in a report on Friday, March 20th. Royal Bank Of Canada upgraded shares of Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold 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 price target of $112.00.

Signet Jewelers Trading Up 1.6%

Shares of SIG stock opened at $96.09 on Tuesday. The company’s 50-day moving average price is $90.71 and its 200-day moving average price is $92.74. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.09 and a beta of 1.25. Signet Jewelers has a twelve month low of $52.14 and a twelve month high of $110.20.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, March 19th. The company reported $6.25 EPS for the quarter, beating analysts’ consensus estimates of $6.11 by $0.14. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The company had revenue of ($4,468.50) million for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the company posted $6.62 earnings per share. Signet Jewelers’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts predict that Signet Jewelers will post 10.3 EPS for the current year.

Signet Jewelers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, April 24th will be paid a $0.35 dividend. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, April 24th. Signet Jewelers’s payout ratio is currently 17.95%.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds have recently added to or reduced their stakes in SIG. Salomon & Ludwin LLC acquired a new position in shares of Signet Jewelers in the 3rd quarter valued at $31,000. Richardson Financial Services Inc. acquired a new position in shares of Signet Jewelers in the 4th quarter valued at $31,000. Farther Finance Advisors LLC increased its holdings in shares of Signet Jewelers by 48.6% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $31,000 after acquiring an additional 124 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers in the 4th quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Signet Jewelers by 111.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after purchasing an additional 333 shares during the last quarter.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.