Sirius XM Holdings Inc. (NASDAQ:SIRI) Stake Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 279.4% in the 2nd quarter, Holdings Channel reports. The firm owned 198,569 shares of the company’s stock after acquiring an additional 146,225 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sirius XM were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in shares of Sirius XM during the second quarter worth approximately $26,000. Quent Capital LLC acquired a new position in shares of Sirius XM during the first quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Sirius XM during the first quarter worth approximately $45,000. Rosenberg Matthew Hamilton acquired a new position in shares of Sirius XM during the second quarter worth approximately $47,000. Finally, Prospera Financial Services Inc acquired a new position in shares of Sirius XM during the first quarter worth approximately $56,000. 10.74% of the stock is owned by institutional investors.

Sirius XM Stock Up 0.9 %

Shares of NASDAQ:SIRI opened at $6.49 on Wednesday. The company’s fifty day moving average is $6.11 and its two-hundred day moving average is $6.21. Sirius XM Holdings Inc. has a 12-month low of $5.69 and a 12-month high of $6.88. The company has a market cap of $25.24 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 3.11 and a beta of 0.92.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 11th will be paid a dividend of $0.024 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, November 9th. Sirius XM’s payout ratio is 34.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SIRI shares. StockNews.com started coverage on Sirius XM in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Pivotal Research dropped their price target on Sirius XM from $7.10 to $6.75 in a report on Wednesday, November 2nd. Morgan Stanley dropped their price target on Sirius XM from $6.50 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, October 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sirius XM from $8.00 to $7.50 in a report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM presently has an average rating of “Hold” and a consensus target price of $6.96.

Sirius XM Profile

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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