Shares of Signet Jewelers Limited (NYSE:SIG – Get Free Report) gapped down before the market opened on Wednesday after UBS Group lowered their price target on the stock from $138.00 to $134.00. The stock had previously closed at $102.46, but opened at $90.00. UBS Group currently has a buy rating on the stock. Signet Jewelers shares last traded at $91.48, with a volume of 796,912 shares changing hands.
Several other brokerages have also issued reports on SIG. Citigroup raised Signet Jewelers from a “neutral” rating to a “buy” rating and upped their target price for the stock from $93.00 to $119.00 in a research note on Wednesday, December 6th. Wells Fargo & Company increased their price objective on Signet Jewelers from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Telsey Advisory Group increased their price objective on Signet Jewelers from $90.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, March 15th. Finally, StockNews.com raised Signet Jewelers from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Signet Jewelers currently has an average rating of “Moderate Buy” and an average price target of $112.20.
Insider Buying and Selling
In related news, insider Howard A. Melnick sold 2,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $102.73, for a total value of $205,460.00. Following the completion of the sale, the insider now owns 66,999 shares of the company’s stock, valued at $6,882,807.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Signet Jewelers news, insider Howard A. Melnick sold 2,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $102.73, for a total value of $205,460.00. Following the completion of the transaction, the insider now owns 66,999 shares in the company, valued at $6,882,807.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Oded Edelman sold 7,911 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $105.36, for a total value of $833,502.96. Following the completion of the transaction, the insider now owns 33,378 shares of the company’s stock, valued at approximately $3,516,706.08. The disclosure for this sale can be found here. Insiders sold 81,004 shares of company stock valued at $7,983,094 over the last quarter. 4.54% of the stock is owned by company insiders.
Hedge Funds Weigh In On Signet Jewelers
Institutional investors have recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund bought a new position in Signet Jewelers in the third quarter worth $1,905,000. William Blair Investment Management LLC increased its holdings in shares of Signet Jewelers by 7.2% during the third quarter. William Blair Investment Management LLC now owns 585,383 shares of the company’s stock valued at $42,036,000 after acquiring an additional 39,316 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Signet Jewelers by 9.2% during the third quarter. American Century Companies Inc. now owns 615,867 shares of the company’s stock valued at $44,225,000 after acquiring an additional 52,104 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Signet Jewelers during the third quarter valued at $2,671,000. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of Signet Jewelers by 8.6% during the third quarter. Brandywine Global Investment Management LLC now owns 174,573 shares of the company’s stock valued at $12,536,000 after acquiring an additional 13,821 shares in the last quarter.
Signet Jewelers Stock Down 12.1 %
The firm has a fifty day moving average price of $100.67 and a two-hundred day moving average price of $88.58. The stock has a market capitalization of $3.99 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.22 and a beta of 2.13.
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 Jewelers, Zales Outlet, 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.