Principal Financial Group Inc. lowered its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,067,646 shares of the company’s stock after selling 259,267 shares during the quarter. Principal Financial Group Inc.’s holdings in Sirius XM were worth $12,902,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in Sirius XM by 268.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 697,797 shares of the company’s stock valued at $3,740,000 after purchasing an additional 508,632 shares during the last quarter. American International Group Inc. lifted its position in Sirius XM by 12.8% during the fourth quarter. American International Group Inc. now owns 293,945 shares of the company’s stock valued at $1,576,000 after purchasing an additional 33,348 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in Sirius XM by 14.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 153,279 shares of the company’s stock valued at $822,000 after purchasing an additional 19,533 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Sirius XM by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 10,001,096 shares of the company’s stock valued at $53,608,000 after purchasing an additional 282,125 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Sirius XM by 36.7% during the first quarter. Toronto Dominion Bank now owns 130,110 shares of the company’s stock valued at $812,000 after purchasing an additional 34,955 shares during the last quarter. Institutional investors and hedge funds own 18.67% of the company’s stock.
Several research firms have commented on SIRI. BidaskClub upgraded shares of Sirius XM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. Buckingham Research restated a “neutral” rating and issued a $7.00 target price on shares of Sirius XM in a report on Monday, May 7th. Pivotal Research lowered shares of Sirius XM from a “buy” rating to a “hold” rating and set a $7.75 target price for the company. in a report on Tuesday, June 19th. Bank of America raised their target price on shares of Sirius XM from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, June 14th. Finally, Zacks Investment Research lowered shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, March 19th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Sirius XM presently has an average rating of “Hold” and a consensus price target of $6.47.
In related news, EVP Dara F. Altman sold 387,696 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $7.49, for a total value of $2,903,843.04. Following the transaction, the executive vice president now owns 2,010,556 shares of the company’s stock, valued at approximately $15,059,064.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Cook sold 97,550 shares of the firm’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $6.35, for a total transaction of $619,442.50. Following the completion of the transaction, the executive vice president now directly owns 1,305,993 shares in the company, valued at approximately $8,293,055.55. The disclosure for this sale can be found here. Insiders sold a total of 2,424,320 shares of company stock worth $16,542,720 in the last ninety days. 0.76% of the stock is currently owned by insiders.
Sirius XM opened at $6.82 on Friday, Marketbeat.com reports. The stock has a market capitalization of $31.08 billion, a P/E ratio of 34.10, a P/E/G ratio of 1.88 and a beta of 1.12. Sirius XM Holdings Inc has a 12 month low of $5.17 and a 12 month high of $7.70. The company has a current ratio of 0.18, a quick ratio of 0.17 and a debt-to-equity ratio of -4.35.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Wednesday, April 25th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Sirius XM had a net margin of 13.26% and a negative return on equity of 76.24%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. equities research analysts expect that Sirius XM Holdings Inc will post 0.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Thursday, May 10th were paid a $0.011 dividend. This represents a $0.04 annualized dividend and a yield of 0.65%. The ex-dividend date was Wednesday, May 9th. Sirius XM’s dividend payout ratio is presently 20.00%.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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