Zurcher Kantonalbank Zurich Cantonalbank Has $3.14 Million Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Posted by Defense World Staff on Apr 23rd, 2023

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 172.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 538,364 shares of the company’s stock after acquiring an additional 340,625 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sirius XM were worth $3,144,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SIRI. PNC Financial Services Group Inc. boosted its holdings in shares of Sirius XM by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after buying an additional 1,845 shares during the period. MetLife Investment Management LLC acquired a new stake in Sirius XM in the 1st quarter valued at about $115,000. Rhumbline Advisers increased its position in Sirius XM by 0.5% in the 1st quarter. Rhumbline Advisers now owns 1,050,105 shares of the company’s stock valued at $6,952,000 after acquiring an additional 4,947 shares in the last quarter. Allianz Asset Management GmbH increased its position in Sirius XM by 49.7% in the 1st quarter. Allianz Asset Management GmbH now owns 47,596 shares of the company’s stock valued at $315,000 after acquiring an additional 15,809 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Sirius XM in the 1st quarter valued at about $293,000. Institutional investors and hedge funds own 10.10% of the company’s stock.

Sirius XM Stock Up 1.1 %

SIRI opened at $3.84 on Friday. Sirius XM Holdings Inc. has a twelve month low of $3.43 and a twelve month high of $6.85. The company has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $5.32. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 2.16 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.31 billion. Sirius XM had a negative return on equity of 35.45% and a net margin of 13.48%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Friday, May 5th will be issued a $0.0242 dividend. This represents a $0.10 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, May 4th. Sirius XM’s dividend payout ratio (DPR) is currently 33.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SIRI shares. Morgan Stanley lowered their price objective on shares of Sirius XM from $5.40 to $4.40 and set an “underweight” rating for the company in a research report on Thursday, April 13th. Barrington Research restated an “outperform” rating and set a $7.00 target price (down from $7.50) on shares of Sirius XM in a report on Tuesday, February 7th. Credit Suisse Group lowered their target price on shares of Sirius XM from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, February 3rd. Bank of America downgraded shares of Sirius XM from a “buy” rating to a “neutral” rating in a report on Thursday, February 2nd. Finally, StockNews.com downgraded shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average target price of $5.39.

Sirius XM Company Profile

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Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.