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New Big Money Means Signet Jewelers Ltd (SIG) Investors Could Reap Benefit

Signet Jewelers Ltd (NYSE: SIG) is -7.14% lower on its value in year-to-date trading and has touched a low of $57.10 and a high of $109.17 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SIG stock was last observed hovering at around $100.53 in the last trading session, with the day’s loss setting it -0.93%.

Currently trading at $99.60, the stock is 0.78% and -0.86% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.68 million and changing -0.93% at the moment leaves the stock 16.66% off its SMA200. SIG registered 31.42% gain for a year compared to 6-month gain of 39.15%. The firm has a 50-day simple moving average (SMA 50) of $0.69 and a 200-day simple moving average (SMA200) of $6.27.

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The stock witnessed a 2.68% loss in the last 1 month and extending the period to 3 months gives it a -1.39%, and is -6.07% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.84% over the week and 3.76% over the month.

Signet Jewelers Ltd (SIG) has around 27991 employees, a market worth around $4.43B and $7.17B in sales. Current P/E ratio is 6.72 and Fwd P/E is 8.12. Profit margin for the company is 10.82%. Distance from 52-week low is 74.43% and -8.77% from its 52-week high. The company has generated returns on investments over the last 12 months (21.21%).

Signet Jewelers Ltd quarterly earnings per share for the current quarter are estimated at $0.84 with sales reaching $1.51B over the same period.The EPS is expected to grow by 2.10% this year, but quarterly earnings will post -4.50% year-over-year.

401 institutions hold shares in Signet Jewelers Ltd (SIG), with institutional investors hold 111.40% of the company’s shares. The shares outstanding are 44.20M, and float is at 42.53M with Short Float at 8.88%. Institutions hold 107.67% of the Float.

The top institutional shareholder in the company is Select Equity Group, Inc. with over 8.72 million shares valued at $569.13 million. The investor’s holdings represent 19.43% of the SIG Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 7.28 million shares valued at $475.21 million to account for 16.22% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 5.14 million shares representing 11.45% and valued at over $335.52 million, while Dimensional Fund Advisors LP holds 5.26% of the shares totaling 2.36 million with a market value of $153.93 million.

Signet Jewelers Ltd (SIG) Insider Activity

The most recent transaction is an insider sale by Drosos Virginia, the company’s Chief Executive Officer. SEC filings show that Drosos Virginia sold 45,000 shares of the company’s common stock on Apr 01 ’24 at a price of $99.75 per share for a total of $4.49 million. Following the sale, the insider now owns 0.78 million shares.

Signet Jewelers Ltd disclosed in a document filed with the SEC on Mar 27 ’24 that Brace William (President – KAY Jewelers) sold a total of 3,000 shares of the company’s common stock. The trade occurred on Mar 27 ’24 and was made at $99.00 per share for $0.3 million. Following the transaction, the insider now directly holds 75664.0 shares of the SIG stock.

Still, SEC filings show that on Mar 25 ’24, Hilson Joan M (* ) disposed off 8,000 shares at an average price of $92.69 for $0.74 million. The insider now directly holds 187,377 shares of Signet Jewelers Ltd (SIG).

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