Principal Financial Group Inc. Has $374,000 Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Principal Financial Group Inc. lessened its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 67.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,814 shares of the company's stock after selling 32,999 shares during the quarter. Principal Financial Group Inc.'s holdings in Sirius XM were worth $374,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Coston McIsaac & Partners raised its position in Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new position in Sirius XM during the third quarter worth $29,000. Bfsg LLC raised its holdings in Sirius XM by 35.3% during the third quarter. Bfsg LLC now owns 4,735 shares of the company's stock valued at $112,000 after buying an additional 1,235 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in shares of Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after buying an additional 1,315 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Sirius XM by 139.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company's stock worth $75,000 after acquiring an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SIRI. Pivotal Research cut their price objective on Sirius XM from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Benchmark reissued a "buy" rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. The Goldman Sachs Group decreased their price objective on shares of Sirius XM from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Monday, November 4th. Seaport Res Ptn downgraded shares of Sirius XM from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Sirius XM from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.58.

Sirius XM Stock Performance

Shares of SIRI stock traded down $0.03 during mid-day trading on Tuesday, reaching $23.10. The stock had a trading volume of 5,232,006 shares, compared to its average volume of 5,292,475. Sirius XM Holdings Inc. has a one year low of $20.47 and a one year high of $55.45. The firm has a market cap of $7.84 billion, a PE ratio of -3.64 and a beta of 1.05. The firm's 50 day simple moving average is $25.28 and its 200 day simple moving average is $28.12. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM's payout ratio is -17.03%.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the company's stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the purchase, the insider now directly owns 110,276,790 shares of the company's stock, valued at $3,024,892,349.70. The trade was a 0.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 2,646,761 shares of company stock valued at $65,952,329 over the last quarter. 0.79% of the stock is owned by company insiders.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.