TIAA FSB lowered its holdings in shares of Sirius XM Holdings Inc (NASDAQ:SIRI) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,351 shares of the company’s stock after selling 3,528 shares during the quarter. TIAA FSB’s holdings in Sirius XM were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Sirius XM by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,548,464 shares of the company’s stock valued at $22,428,000 after acquiring an additional 33,820 shares during the last quarter. Franklin Resources Inc. lifted its stake in Sirius XM by 72.0% in the third quarter. Franklin Resources Inc. now owns 45,666 shares of the company’s stock valued at $289,000 after acquiring an additional 19,119 shares during the last quarter. Deutsche Bank AG lifted its stake in Sirius XM by 5.2% in the third quarter. Deutsche Bank AG now owns 1,875,781 shares of the company’s stock valued at $11,852,000 after acquiring an additional 92,683 shares during the last quarter. Paloma Partners Management Co lifted its stake in Sirius XM by 262.1% in the third quarter. Paloma Partners Management Co now owns 108,619 shares of the company’s stock valued at $687,000 after acquiring an additional 78,619 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Sirius XM by 18.4% in the third quarter. Pacer Advisors Inc. now owns 173,827 shares of the company’s stock valued at $1,099,000 after acquiring an additional 27,046 shares during the last quarter. Institutional investors and hedge funds own 16.99% of the company’s stock.
Shares of SIRI traded up $0.03 during mid-day trading on Friday, reaching $5.74. The company had a trading volume of 20,250,554 shares, compared to its average volume of 29,941,076. Sirius XM Holdings Inc has a 1-year low of $5.48 and a 1-year high of $7.70. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 46.63. The company has a market cap of $25.65 billion, a P/E ratio of 22.08, a PEG ratio of 2.85 and a beta of 1.03.
Sirius XM announced that its board has approved a stock repurchase program on Tuesday, January 29th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 10th will be paid a $0.0121 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.84%. Sirius XM’s payout ratio is currently 19.23%.
In related news, EVP James Arthur Cady sold 588,503 shares of Sirius XM stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the sale, the executive vice president now directly owns 1,840,070 shares in the company, valued at approximately $11,279,629.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.76% of the company’s stock.
SIRI has been the subject of a number of recent analyst reports. Barrington Research reiterated a “buy” rating and issued a $8.00 price target on shares of Sirius XM in a research note on Wednesday, April 24th. Buckingham Research upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, January 28th. Zacks Investment Research lowered shares of Sirius XM from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, April 25th. Finally, Barclays set a $6.00 price objective on shares of Sirius XM and gave the company a “sell” rating in a research report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $7.29.
About Sirius XM
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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