Raymond James Financial Inc. Buys 99,389 Shares of Sirius XM Holdings Inc. $SIRI

Raymond James Financial Inc. increased its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 949,582 shares of the company’s stock after purchasing an additional 99,389 shares during the quarter. Raymond James Financial Inc. owned approximately 0.28% of Sirius XM worth $21,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its stake in shares of Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock worth $2,678,283,000 after buying an additional 12,313,544 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Sirius XM by 41.5% during the 1st quarter. LSV Asset Management now owns 3,197,800 shares of the company’s stock valued at $72,094,000 after acquiring an additional 937,500 shares in the last quarter. Seizert Capital Partners LLC grew its position in Sirius XM by 0.5% during the 1st quarter. Seizert Capital Partners LLC now owns 2,281,165 shares of the company’s stock worth $51,429,000 after acquiring an additional 11,549 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Sirius XM by 69.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,651,891 shares of the company’s stock worth $37,663,000 after purchasing an additional 675,924 shares in the last quarter. Finally, Northern Trust Corp raised its position in Sirius XM by 5.8% in the fourth quarter. Northern Trust Corp now owns 1,309,442 shares of the company’s stock valued at $29,855,000 after purchasing an additional 72,172 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a research note on Friday, August 1st. Morgan Stanley lifted their target price on shares of Sirius XM from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 16th. Guggenheim reissued a “buy” rating and set a $29.00 target price on shares of Sirius XM in a report on Thursday, June 26th. Rosenblatt Securities raised their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company cut their price target on shares of Sirius XM from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.18.

Sirius XM Stock Up 0.3%

Sirius XM stock opened at $23.14 on Wednesday. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -3.43, a PEG ratio of 0.35 and a beta of 0.92. Sirius XM Holdings Inc. has a 52-week low of $18.69 and a 52-week high of $33.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a 50 day moving average price of $22.89 and a two-hundred day moving average price of $22.61.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Equities analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, August 8th. Sirius XM’s dividend payout ratio (DPR) is presently -16.00%.

Sirius XM 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.