Sigma Planning Corp reduced its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,475 shares of the company’s stock after selling 3,409 shares during the period. Sigma Planning Corp’s holdings in Sirius XM were worth $117,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. United Services Automobile Association boosted its position in shares of Sirius XM by 1.4% during the 3rd quarter. United Services Automobile Association now owns 1,723,048 shares of the company’s stock valued at $10,890,000 after acquiring an additional 23,367 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Sirius XM by 6.4% during the 3rd quarter. Nordea Investment Management AB now owns 5,235,888 shares of the company’s stock valued at $33,090,000 after acquiring an additional 313,424 shares in the last quarter. Virginia National Bank acquired a new stake in shares of Sirius XM during the 3rd quarter valued at about $360,000. TrimTabs Asset Management LLC acquired a new stake in shares of Sirius XM during the 4th quarter valued at about $979,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Sirius XM by 154.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 150,755 shares of the company’s stock valued at $952,000 after acquiring an additional 91,600 shares in the last quarter. Institutional investors and hedge funds own 17.35% of the company’s stock.
Shares of SIRI stock opened at $5.90 on Wednesday. Sirius XM Holdings Inc has a 1 year low of $5.48 and a 1 year high of $7.70. The company has a market cap of $26.50 billion, a PE ratio of 22.69, a P/E/G ratio of 2.34 and a beta of 1.04.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Monday, February 11th will be given a dividend of $0.0121 per share. The ex-dividend date of this dividend is Friday, February 8th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.82%. Sirius XM’s payout ratio is 19.23%.
Sirius XM announced that its board has authorized a share buyback program on Tuesday, January 29th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
SIRI has been the topic of a number of recent analyst reports. Pivotal Research restated a “hold” rating and issued a $7.00 price target on shares of Sirius XM in a research report on Wednesday, October 24th. BidaskClub upgraded shares of Sirius XM from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered shares of Sirius XM from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research report on Thursday, November 15th. Macquarie restated a “buy” rating and issued a $7.75 price target on shares of Sirius XM in a research report on Wednesday, December 26th. Finally, JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $6.00 to $7.00 in a research report on Wednesday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Sirius XM currently has an average rating of “Hold” and a consensus target price of $7.19.
In other news, EVP Stephen Cook sold 56,118 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $6.13, for a total transaction of $344,003.34. Following the transaction, the executive vice president now directly owns 1,445,007 shares in the company, valued at $8,857,892.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas D. Barry sold 48,513 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $6.06, for a total transaction of $293,988.78. Following the transaction, the vice president now owns 462,465 shares in the company, valued at $2,802,537.90. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.
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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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