Raymond James Financial Services Advisors Inc. raised its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 253,904 shares of the company’s stock after acquiring an additional 3,363 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sirius XM were worth $1,150,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SIRI. PNC Financial Services Group Inc. grew its holdings in shares of Sirius XM by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after purchasing an additional 1,845 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Sirius XM by 15.3% in the first quarter. Perigon Wealth Management LLC now owns 20,924 shares of the company’s stock valued at $83,000 after purchasing an additional 2,779 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Sirius XM by 20.7% in the second quarter. Atria Wealth Solutions Inc. now owns 16,881 shares of the company’s stock valued at $103,000 after purchasing an additional 2,898 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Sirius XM by 16.4% in the first quarter. Harbour Investments Inc. now owns 23,410 shares of the company’s stock valued at $93,000 after purchasing an additional 3,305 shares in the last quarter. Finally, MAI Capital Management grew its holdings in shares of Sirius XM by 17.0% in the first quarter. MAI Capital Management now owns 24,636 shares of the company’s stock valued at $98,000 after purchasing an additional 3,587 shares in the last quarter. 10.50% of the stock is currently owned by institutional investors and hedge funds.
Sirius XM Price Performance
SIRI stock opened at $4.12 on Friday. The company has a fifty day moving average price of $4.33 and a 200 day moving average price of $4.26. Sirius XM Holdings Inc. has a 12 month low of $3.32 and a 12 month high of $7.95. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.
Sirius XM Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 7th will be paid a $0.0266 dividend. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. This represents a $0.11 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, November 6th. Sirius XM’s payout ratio is currently 34.48%.
Wall Street Analysts Forecast Growth
SIRI has been the subject of a number of research reports. Benchmark lifted their price objective on shares of Sirius XM from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, July 21st. Bank of America lowered their price target on shares of Sirius XM from $5.50 to $4.50 in a report on Wednesday, September 27th. Pivotal Research lowered their price target on shares of Sirius XM from $5.00 to $4.75 in a report on Tuesday, September 26th. Evercore ISI cut shares of Sirius XM from an “in-line” rating to an “underperform” rating and set a $4.50 price target for the company. in a report on Friday, July 21st. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $5.02.
Read Our Latest Report on Sirius XM
Insider Buying and Selling at Sirius XM
In other news, CEO Jennifer C. Witz acquired 250,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average cost of $4.11 per share, with a total value of $1,027,500.00. Following the purchase, the chief executive officer now owns 2,812,000 shares of the company’s stock, valued at approximately $11,557,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
Sirius XM Profile
Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.
Featured Stories
- Five stocks we like better than Sirius XM
- 5 Top Rated Dividend Stocks to Consider
- Can casino stocks win big if economy slows?
- How to Invest in the Healthcare Sector
- Amazon comes to a boil; complete price reversal in sight
- How to Invest in Renewable Energy
- Ford charts new path for EVs with focus on cost efficiency
Receive News & Ratings for Sirius XM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sirius XM and related companies with MarketBeat.com's FREE daily email newsletter.
