Southeast Asset Advisors LLC Cuts Stake in Signet Jewelers Limited (NYSE:SIG)

Southeast Asset Advisors LLC cut its position in Signet Jewelers Limited (NYSE:SIG) by 10.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,872 shares of the company’s stock after selling 4,189 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Signet Jewelers were worth $2,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Signet Jewelers by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after acquiring an additional 421 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Signet Jewelers by 32.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock worth $123,000 after purchasing an additional 410 shares in the last quarter. KBC Group NV raised its stake in shares of Signet Jewelers by 34.6% in the fourth quarter. KBC Group NV now owns 1,740 shares of the company’s stock worth $140,000 after purchasing an additional 447 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Signet Jewelers during the third quarter valued at $210,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Signet Jewelers during the third quarter valued at $225,000.

Insider Activity

In other Signet Jewelers news, CEO James Kevin Symancyk bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were bought at an average price of $57.45 per share, with a total value of $861,750.00. Following the purchase, the chief executive officer now owns 50,710 shares of the company’s stock, valued at $2,913,289.50. This trade represents a 42.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the transaction, the director now owns 22,752 shares of the company’s stock, valued at $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.26% of the company’s stock.

Signet Jewelers Trading Up 0.1 %

NYSE:SIG opened at $54.75 on Monday. Signet Jewelers Limited has a one year low of $45.55 and a one year high of $112.06. The business has a fifty day moving average price of $54.31 and a 200-day moving average price of $76.52. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 3.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, beating analysts’ consensus estimates of $6.39 by $0.23. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. Sell-side analysts forecast that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.34%. Signet Jewelers’s dividend payout ratio is -168.42%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SIG. Telsey Advisory Group reissued a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday, March 19th. Wells Fargo & Company lowered their price objective on shares of Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. UBS Group increased their price target on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, Bank of America cut their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and an average price target of $81.60.

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.