Industrial Alliance Investment Management Inc. Buys 6,618 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Industrial Alliance Investment Management Inc. boosted its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,742 shares of the company’s stock after acquiring an additional 6,618 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Sirius XM were worth $1,386,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Royal London Asset Management Ltd. lifted its position in Sirius XM by 0.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 255,751 shares of the company’s stock valued at $1,462,000 after acquiring an additional 1,631 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its position in Sirius XM by 1.9% during the 3rd quarter. Lester Murray Antman dba SimplyRich now owns 91,865 shares of the company’s stock worth $524,000 after buying an additional 1,708 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Sirius XM by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after buying an additional 1,845 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Sirius XM by 6.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 30,720 shares of the company’s stock worth $175,000 after buying an additional 1,941 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its position in Sirius XM by 3.8% during the 3rd quarter. Wealthspire Advisors LLC now owns 57,174 shares of the company’s stock worth $326,000 after buying an additional 2,070 shares in the last quarter. 10.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sirius XM from $7.50 to $6.25 and set a “buy” rating on the stock in a research report on Monday, February 6th. Benchmark reissued a “buy” rating and set a $7.00 price target on shares of Sirius XM in a research report on Thursday, March 9th. Pivotal Research lowered their price objective on shares of Sirius XM from $6.75 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, February 9th. Bank of America lowered shares of Sirius XM from a “buy” rating to a “neutral” rating in a research note on Thursday, February 2nd. Finally, Credit Suisse Group lowered their price objective on shares of Sirius XM from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Sirius XM has a consensus rating of “Hold” and an average target price of $5.77.

Sirius XM Stock Performance

Shares of SIRI opened at $3.61 on Friday. Sirius XM Holdings Inc. has a 52 week low of $3.43 and a 52 week high of $6.85. The firm has a market cap of $14.04 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The firm’s 50-day simple moving average is $4.97 and its 200 day simple moving average is $5.70.

Sirius XM (NASDAQ:SIRI – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Sirius XM had a net margin of 13.48% and a negative return on equity of 35.45%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business earned $0.08 EPS. Sirius XM’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Thursday, February 9th were given a dividend of $0.0242 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Wednesday, February 8th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.02. Sirius XM’s dividend payout ratio is presently 33.33%.

About Sirius XM

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Sirius XM Holdings, Inc engages in the provision of audio entertainment. It operates through Sirius XM and Pandora and Off-Platform segments. The company was founded on May 17, 1990, and is headquartered in New York, NY.