Picton Mahoney Asset Management Invests $2.08 Million in Signet Jewelers Limited (NYSE:SIG)

Picton Mahoney Asset Management acquired a new position in shares of Signet Jewelers Limited (NYSE:SIG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,355 shares of the company’s stock, valued at approximately $2,075,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Eminence Capital LP bought a new stake in shares of Signet Jewelers during the 3rd quarter valued at about $40,962,000. Pacer Advisors Inc. increased its stake in Signet Jewelers by 38.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,262,773 shares of the company’s stock worth $135,445,000 after purchasing an additional 349,771 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Signet Jewelers in the third quarter worth approximately $19,826,000. FMR LLC boosted its stake in Signet Jewelers by 8.4% in the 3rd quarter. FMR LLC now owns 1,201,134 shares of the company’s stock worth $86,253,000 after purchasing an additional 93,136 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Signet Jewelers by 9.2% in the third quarter. American Century Companies Inc. now owns 615,867 shares of the company’s stock worth $44,225,000 after purchasing an additional 52,104 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SIG shares. Bank of America lowered their target price on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. UBS Group raised their target price on Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Telsey Advisory Group increased their price objective on shares of Signet Jewelers from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $120.20.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $94.56 on Thursday. The company has a 50 day moving average of $98.22 and a 200-day moving average of $94.79. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 6.31, a P/E/G ratio of 1.11 and a beta of 2.15. Signet Jewelers Limited has a one year low of $57.10 and a one year high of $109.17.

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

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors 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%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 25th. Signet Jewelers’s dividend payout ratio (DPR) is presently 7.74%.

Insider Activity

In other news, Director H. Todd Stitzer sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the sale, the director now owns 56,678 shares of the company’s stock, valued at $5,804,393.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Signet Jewelers news, CAO Vincent Ciccolini sold 4,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $101.64, for a total transaction of $406,560.00. Following the transaction, the chief accounting officer now owns 46,076 shares in the company, valued at approximately $4,683,164.64. 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 Signet Jewelers stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the completion of the transaction, the director now directly owns 56,678 shares of the company’s stock, valued at $5,804,393.98. The disclosure for this sale can be found here. Insiders have sold a total of 51,254 shares of company stock worth $5,075,854 over the last three months. Corporate insiders own 4.54% of the company’s stock.

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.