Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,945 shares of the company's stock after selling 26,794 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Sirius XM were worth $1,253,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Coston McIsaac & Partners lifted its stake 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 buying an additional 624 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM during the fourth quarter valued at about $26,000. TCTC Holdings LLC purchased a new stake in Sirius XM during the third quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its stake in Sirius XM by 574.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock valued at $31,000 after buying an additional 1,144 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock valued at $32,000 after buying an additional 1,315 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Rosenblatt Securities reduced their price objective on shares of Sirius XM from $29.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Pivotal Research reduced their price objective on shares of Sirius XM from $40.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Wells Fargo & Company reduced their price objective on shares of Sirius XM from $22.00 to $16.00 and set an "underweight" rating for the company in a research note on Thursday, December 19th. Guggenheim reduced their price target on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Bank of America reissued an "underperform" rating and issued a $23.00 price target on shares of Sirius XM in a research report on Thursday, October 24th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Sirius XM has a consensus rating of "Hold" and an average price target of $26.96.
Check Out Our Latest Research Report on Sirius XM
Sirius XM Stock Performance
SIRI stock traded up $0.02 during midday trading on Tuesday, hitting $27.13. 1,798,632 shares of the company traded hands, compared to its average volume of 5,733,533. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of -4.23, a price-to-earnings-growth ratio of 0.82 and a beta of 1.06. The business has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $25.90. Sirius XM Holdings Inc. has a twelve month low of $20.47 and a twelve month high of $48.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93.
Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 3.17 earnings per share for the current year.
Sirius XM Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. Sirius XM's payout ratio is presently -16.85%.
About Sirius XM
(
Free Report)
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.
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