Wedge Capital Management L L P NC Reduces Stock Position in Signet Jewelers Limited (NYSE:SIG)

Wedge Capital Management L L P NC reduced its holdings in shares of Signet Jewelers Limited (NYSE:SIG) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,022 shares of the company’s stock after selling 10,022 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Signet Jewelers were worth $6,004,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SIG. Hexagon Capital Partners LLC boosted its stake in Signet Jewelers by 37.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after acquiring an additional 127 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Signet Jewelers during the fourth quarter worth about $64,000. Quadrant Capital Group LLC grew its stake in Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after purchasing an additional 544 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Signet Jewelers by 6.8% in the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in Signet Jewelers during the fourth quarter valued at approximately $202,000.

Insider Transactions at Signet Jewelers

In related news, insider Oded Edelman sold 9,000 shares of Signet Jewelers stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total transaction of $670,950.00. Following the sale, the insider now directly owns 28,398 shares in the company, valued at $2,117,070.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Oded Edelman sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total transaction of $670,950.00. Following the transaction, the insider now owns 28,398 shares in the company, valued at $2,117,070.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugenia Ulasewicz sold 3,334 shares of the business’s stock in a transaction that occurred on 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 directly owns 29,418 shares in the company, valued at approximately $2,587,018.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,439 shares of company stock valued at $4,169,869. 3.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SIG. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $105.00 price objective on shares of Signet Jewelers in a report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Signet Jewelers from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Finally, Citigroup restated a “buy” rating and issued a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.20.

Signet Jewelers Trading Up 0.4 %

SIG traded up $0.28 during trading on Friday, reaching $78.46. 83,988 shares of the company were exchanged, compared to its average volume of 775,283. Signet Jewelers Limited has a 52 week low of $65.12 and a 52 week high of $112.06. The firm has a 50 day moving average of $86.36 and a 200 day moving average of $95.51. The stock has a market cap of $3.50 billion, a P/E ratio of 6.36, a PEG ratio of 0.79 and a beta of 2.16.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, analysts forecast that Signet Jewelers Limited will post 10.6 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a yield of 1.48%. Signet Jewelers’s dividend payout ratio (DPR) is presently 9.43%.

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.