Signet Jewelers Ltd. (NYSE:SIG) was the recipient of some unusual options trading on Tuesday. Traders bought 3,435 call options on the stock. This is an increase of 862% compared to the average daily volume of 357 call options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC increased its position in Signet Jewelers by 69.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 64,016 shares of the company’s stock worth $3,569,000 after purchasing an additional 26,285 shares during the period. Wells Fargo & Company MN increased its position in Signet Jewelers by 3.8% during the 2nd quarter. Wells Fargo & Company MN now owns 368,593 shares of the company’s stock worth $20,550,000 after purchasing an additional 13,645 shares during the period. Bank of New York Mellon Corp increased its position in Signet Jewelers by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 697,621 shares of the company’s stock worth $38,892,000 after purchasing an additional 74,022 shares during the period. Swiss National Bank grew its holdings in shares of Signet Jewelers by 2.8% in the 2nd quarter. Swiss National Bank now owns 102,800 shares of the company’s stock worth $5,731,000 after acquiring an additional 2,800 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Signet Jewelers in the 2nd quarter worth approximately $214,000.

NYSE SIG opened at $50.96 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 2.69. Signet Jewelers has a 12-month low of $33.11 and a 12-month high of $71.07. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, August 30th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.32. Signet Jewelers had a positive return on equity of 17.52% and a negative net margin of 2.84%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Signet Jewelers will post 4.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 2nd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 1st. Signet Jewelers’s payout ratio is 22.73%.

Several research firms have commented on SIG. Zacks Investment Research reaffirmed a “hold” rating on shares of Signet Jewelers in a research note on Thursday, November 15th. ValuEngine downgraded Signet Jewelers from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Nomura downgraded Signet Jewelers from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Telsey Advisory Group reaffirmed a “market perform” rating and set a $69.00 price objective (up from $63.00) on shares of Signet Jewelers in a research note on Friday, August 31st. Finally, TheStreet raised Signet Jewelers from a “d+” rating to a “c-” rating in a research note on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. Signet Jewelers presently has an average rating of “Hold” and a consensus price target of $55.13.

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About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.

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