Signet Jewelers (NYSE:SIG) Shares Up 3.4% Following Dividend Announcement

Signet Jewelers Limited (NYSE:SIG - Get Free Report)'s share price shot up 3.4% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $57.87 and last traded at $58.22. 228,287 shares changed hands during trading, a decline of 78% from the average session volume of 1,048,343 shares. The stock had previously closed at $56.30.

The newly announced dividend which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, April 25th. This is an increase from Signet Jewelers's previous quarterly dividend of $0.29. Signet Jewelers's dividend payout ratio (DPR) is currently -168.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SIG shares. Telsey Advisory Group reissued a "market perform" rating and set a $55.00 price target on shares of Signet Jewelers in a research report on Wednesday, March 19th. StockNews.com downgraded Signet Jewelers from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. UBS Group increased their price target on Signet Jewelers from $85.00 to $89.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Bank of America reduced their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their target price on Signet Jewelers from $95.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.60.

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Signet Jewelers Trading Down 1.8 %

The firm's 50-day simple moving average is $54.32 and its 200 day simple moving average is $78.06. The stock has a market capitalization of $2.62 billion, a P/E ratio of 6.92, a PEG ratio of 3.43 and a beta of 2.20. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company posted $6.73 EPS. The company's revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Signet Jewelers Limited will post 8.73 EPS for the current fiscal year.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the sale, the director now owns 22,752 shares in the company, valued at $1,231,565.76. This represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently made changes to their positions in SIG. Janney Montgomery Scott LLC increased its holdings in Signet Jewelers by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,517 shares of the company's stock worth $526,000 after buying an additional 205 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Signet Jewelers by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 34,122 shares of the company's stock worth $3,330,000 after purchasing an additional 288 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Signet Jewelers by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,498 shares of the company's stock valued at $1,083,000 after purchasing an additional 330 shares in the last quarter. Xponance Inc. raised its holdings in shares of Signet Jewelers by 12.2% during the 4th quarter. Xponance Inc. now owns 3,149 shares of the company's stock valued at $254,000 after purchasing an additional 343 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in shares of Signet Jewelers by 14.5% in the 4th quarter. Atria Investments Inc now owns 2,815 shares of the company's stock valued at $227,000 after purchasing an additional 356 shares during the last quarter.

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.