Signet Jewelers Limited (NYSE:SIG) to Issue Dividend Increase – $0.23 Per Share

Signet Jewelers Limited (NYSE:SIG – Get Rating) announced a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Friday, April 28th will be given a dividend of 0.23 per share on Friday, May 26th. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, April 27th. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.20.

Signet Jewelers has decreased its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend every year for the last 1 years. Signet Jewelers has a payout ratio of 7.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Signet Jewelers to earn $10.86 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 7.4%.

Signet Jewelers Stock Up 11.3 %

Shares of Signet Jewelers stock opened at $75.52 on Friday. Signet Jewelers has a 12-month low of $48.31 and a 12-month high of $84.80. The firm has a market capitalization of $3.43 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.79 and a beta of 2.18. The company has a quick ratio of 0.37, a current ratio of 1.56 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $74.36 and its 200-day moving average is $66.49.

Signet Jewelers (NYSE:SIG – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.35 by $0.17. Signet Jewelers had a return on equity of 47.90% and a net margin of 5.18%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the company earned $5.01 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities analysts anticipate that Signet Jewelers will post 11.86 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SIG shares. UBS Group raised their price objective on shares of Signet Jewelers from $79.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 7th. Wells Fargo & Company raised their target price on Signet Jewelers from $90.00 to $100.00 in a research report on Friday. Citigroup lifted their price target on Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. Bank of America increased their price objective on Signet Jewelers from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 7th. Finally, StockNews.com assumed coverage on Signet Jewelers in a report on Thursday. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Insider Transactions at Signet Jewelers

In related news, CEO Virginia Drosos sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $75.88, for a total value of $758,800.00. Following the transaction, the chief executive officer now owns 1,106,059 shares in the company, valued at $83,927,756.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Stash Ptak sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the insider now directly owns 34,333 shares of the company’s stock, valued at approximately $2,574,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Virginia Drosos sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total value of $758,800.00. Following the transaction, the chief executive officer now owns 1,106,059 shares in the company, valued at approximately $83,927,756.92. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock valued at $1,570,000 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Partners II LLC grew its stake in Signet Jewelers by 8.5% in the 4th quarter. Advisor Partners II LLC now owns 4,995 shares of the company’s stock valued at $340,000 after buying an additional 393 shares during the last quarter. Royal Bank of Canada grew its position in shares of Signet Jewelers by 36.2% in the third quarter. Royal Bank of Canada now owns 5,444 shares of the company’s stock valued at $311,000 after purchasing an additional 1,447 shares during the last quarter. Mariner LLC acquired a new stake in shares of Signet Jewelers in the fourth quarter valued at about $299,000. XTX Topco Ltd bought a new position in shares of Signet Jewelers in the first quarter worth about $280,000. Finally, Pathstone Family Office LLC lifted its position in shares of Signet Jewelers by 9.7% during the 3rd quarter. Pathstone Family Office LLC now owns 4,856 shares of the company’s stock worth $278,000 after purchasing an additional 430 shares during the last quarter. 97.88% of the stock is currently owned by institutional investors and hedge funds.

Signet Jewelers Company Profile

(Get Rating)

Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.