Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,048,935 shares of the company’s stock after selling 47,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.05% of Sirius XM worth $11,208,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in Sirius XM in the third quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in Sirius XM during the 4th quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new stake in Sirius XM during the 3rd quarter valued at $47,000. Garden State Investment Advisory Services LLC bought a new stake in Sirius XM in the 3rd quarter worth $47,000. Finally, ORG Partners LLC purchased a new position in shares of Sirius XM in the fourth quarter valued at about $49,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. StockNews.com initiated coverage on Sirius XM in a report on Sunday. They issued a “hold” rating for the company. Benchmark reduced their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Citigroup raised their price target on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research note on Friday, January 12th. Finally, Guggenheim began coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.74.

Insider Activity

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Sirius XM Price Performance

NASDAQ:SIRI opened at $3.13 on Tuesday. The firm’s 50-day moving average price is $3.99 and its 200-day moving average price is $4.64. The company has a market capitalization of $12.04 billion, a PE ratio of 9.78, a P/E/G ratio of 1.05 and a beta of 1.04. Sirius XM Holdings Inc. has a 1-year low of $3.04 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities analysts anticipate that Sirius XM Holdings Inc. will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.