Baird Financial Group Inc. lessened its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 10.9% during the second quarter, HoldingsChannel reports. The firm owned 32,682 shares of the company’s stock after selling 3,978 shares during the period. Baird Financial Group Inc.’s holdings in Sirius XM were worth $200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of SIRI. Invesco Ltd. lifted its stake in shares of Sirius XM by 63.8% during the first quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after purchasing an additional 3,074,638 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Sirius XM by 1,784.4% during the second quarter. SG Americas Securities LLC now owns 2,853,631 shares of the company’s stock worth $17,493,000 after acquiring an additional 2,702,199 shares during the last quarter. Northern Trust Corp increased its position in shares of Sirius XM by 22.6% during the first quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock worth $86,779,000 after acquiring an additional 2,413,360 shares during the last quarter. American Century Companies Inc. increased its position in shares of Sirius XM by 14,191.3% during the first quarter. American Century Companies Inc. now owns 2,371,208 shares of the company’s stock worth $15,697,000 after acquiring an additional 2,354,616 shares during the last quarter. Finally, Landscape Capital Management L.L.C. increased its position in shares of Sirius XM by 1,997.8% during the first quarter. Landscape Capital Management L.L.C. now owns 1,972,810 shares of the company’s stock worth $13,060,000 after acquiring an additional 1,878,770 shares during the last quarter. Institutional investors and hedge funds own 10.74% of the company’s stock.
Wall Street Analyst Weigh In
SIRI has been the topic of a number of analyst reports. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Sirius XM from $8.00 to $7.50 in a research report on Wednesday, November 2nd. Morgan Stanley dropped their target price on Sirius XM from $6.50 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 19th. Finally, Pivotal Research dropped their target price on Sirius XM from $7.10 to $6.75 in a research report on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.96.
Sirius XM Stock Up 0.2 %
Sirius XM Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 11th will be issued a $0.024 dividend. This is a positive change 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 is Wednesday, November 9th. Sirius XM’s payout ratio is currently 34.48%.
Sirius XM Profile
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.
- Get a free copy of the StockNews.com research report on Sirius XM (SIRI)
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