Cerity Partners LLC Boosts Stock Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Cerity Partners LLC raised its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,458 shares of the company’s stock after purchasing an additional 2,340 shares during the quarter. Cerity Partners LLC’s holdings in Sirius XM were worth $555,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Sirius XM in the second quarter valued at about $12,858,000. Sessa Capital IM L.P. purchased a new stake in Sirius XM during the 3rd quarter valued at about $77,983,000. Thompson Siegel & Walmsley LLC purchased a new position in Sirius XM during the 3rd quarter worth approximately $67,598,000. Seizert Capital Partners LLC purchased a new position in shares of Sirius XM during the third quarter worth $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sirius XM during the second quarter worth about $5,192,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Up 1.5 %

SIRI opened at $28.74 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $9.75 billion, a PE ratio of -4.53 and a beta of 1.03. Sirius XM Holdings Inc. has a one year low of $22.18 and a one year high of $57.80. The stock’s fifty day moving average is $26.20 and its 200-day moving average is $28.64.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is presently -17.03%.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the acquisition, the insider now directly owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. This represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 2,646,761 shares of company stock worth $65,952,329 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on SIRI. JPMorgan Chase & Co. raised their price objective on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Bank of America reaffirmed an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Pivotal Research dropped their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $28.00 target price on shares of Sirius XM in a research note on Monday, November 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sirius XM presently has an average rating of “Hold” and a consensus target price of $28.96.

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.