The Manufacturers Life Insurance Company lessened its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 95.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,813 shares of the company's stock after selling 268,787 shares during the period. The Manufacturers Life Insurance Company's holdings in Sirius XM were worth $327,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SIRI. Coston McIsaac & Partners increased its holdings in Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock worth $27,000 after acquiring an additional 624 shares in the last quarter. TCTC Holdings LLC bought a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $29,000. Princeton Global Asset Management LLC lifted its position in 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. Plato Investment Management Ltd bought a new position in Sirius XM during the second quarter valued at $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in shares of Sirius XM in the second quarter valued at $35,000. Hedge funds and other institutional investors own 10.69% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SIRI. StockNews.com started coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a "sell" rating on the stock. Pivotal Research reduced their target price 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. Bank of America restated an "underperform" rating and issued a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Rosenblatt Securities boosted their price objective on shares of Sirius XM from $28.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group reduced their target price on shares of Sirius XM from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $28.27.
View Our Latest Stock Report on Sirius XM
Sirius XM Stock Down 6.1 %
SIRI stock traded down $1.47 during trading on Monday, reaching $22.64. 8,301,175 shares of the company traded hands, compared to its average volume of 3,680,379. The business has a 50 day simple moving average of $26.35 and a 200 day simple moving average of $28.57. Sirius XM Holdings Inc. has a 12 month low of $22.18 and a 12 month high of $56.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -3.80 and a beta of 1.03.
Sirius XM Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.27 per share. This is a boost from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.77%. Sirius XM's dividend payout ratio is presently -17.03%.
Insider Buying and Selling at Sirius XM
In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.83 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 2,646,761 shares of company stock worth $65,952,329 over the last three months. Corporate insiders own 0.79% of the company's stock.
Sirius XM Company Profile
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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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