Great West Life Assurance Co. Can Makes New Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Great West Life Assurance Co. Can acquired a new stake in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) during the third quarter, Holdings Channel.com reports. The firm acquired 825,716 shares of the company’s stock, valued at approximately $4,708,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lester Murray Antman dba SimplyRich lifted its stake in shares of Sirius XM by 1.9% in the 3rd quarter. Lester Murray Antman dba SimplyRich now owns 91,865 shares of the company’s stock valued at $524,000 after purchasing an additional 1,708 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Sirius XM by 1.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock valued at $989,000 after purchasing an additional 1,845 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Sirius XM by 6.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 30,720 shares of the company’s stock valued at $175,000 after purchasing an additional 1,941 shares during the period. Stokes Family Office LLC lifted its stake in shares of Sirius XM by 22.1% in the 2nd quarter. Stokes Family Office LLC now owns 12,333 shares of the company’s stock valued at $76,000 after purchasing an additional 2,231 shares during the period. Finally, Blooom Inc. lifted its stake in shares of Sirius XM by 15.7% in the 2nd quarter. Blooom Inc. now owns 16,690 shares of the company’s stock valued at $102,000 after purchasing an additional 2,267 shares during the period. 10.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kristina Salen sold 44,670 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $6.46, for a total value of $288,568.20. Following the completion of the transaction, the director now directly owns 93,969 shares of the company’s stock, valued at $607,039.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SIRI has been the topic of a number of recent analyst reports. Citigroup downgraded Sirius XM from a “buy” rating to a “sell” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Sirius XM from $8.00 to $7.50 in a research note on Wednesday, November 2nd. Pivotal Research dropped their price target on Sirius XM from $7.10 to $6.75 in a research note 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 research note on Wednesday, October 19th. Finally, Credit Suisse Group dropped their price target on Sirius XM from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, January 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.63.

Sirius XM Stock Performance

Shares of SIRI opened at $5.84 on Monday. The stock has a 50 day moving average price of $6.09 and a two-hundred day moving average price of $6.18. The firm has a market capitalization of $22.71 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.54 and a beta of 0.95. Sirius XM Holdings Inc. has a 52 week low of $5.69 and a 52 week high of $6.88.

Sirius XM (NASDAQ:SIRI – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.27 billion. Sirius XM had a net margin of 12.95% and a negative return on equity of 35.97%. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Friday, November 11th were issued a $0.024 dividend. The ex-dividend date was Wednesday, November 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 1.64%. Sirius XM’s dividend payout ratio is currently 34.48%.

About Sirius XM

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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.