Wells Fargo & Company MN cut its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 7.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,989,187 shares of the company’s stock after selling 243,398 shares during the period. Wells Fargo & Company MN’s holdings in Sirius XM were worth $16,022,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of Sirius XM by 27.6% in the 4th quarter. American Century Companies Inc. now owns 44,612,437 shares of the company’s stock valued at $239,123,000 after purchasing an additional 9,657,090 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of Sirius XM by 4.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 13,785,317 shares of the company’s stock valued at $75,819,000 after purchasing an additional 526,766 shares during the period. APG Asset Management N.V. increased its holdings in shares of Sirius XM by 18.1% in the 4th quarter. APG Asset Management N.V. now owns 13,210,562 shares of the company’s stock valued at $58,968,000 after purchasing an additional 2,024,500 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Sirius XM by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,370,146 shares of the company’s stock valued at $34,143,000 after purchasing an additional 777,414 shares during the period. Finally, Swiss National Bank increased its holdings in Sirius XM by 0.5% in the third quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock worth $33,375,000 after buying an additional 27,200 shares during the last quarter. 20.04% of the stock is owned by institutional investors.
In other news, Director Joan Lordi Amble sold 73,961 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total value of $480,746.50. Following the completion of the sale, the director now directly owns 101,174 shares of the company’s stock, valued at $657,631. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph A. Verbrugge sold 863,570 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $6.10, for a total value of $5,267,777.00. Following the completion of the sale, the executive vice president now directly owns 2,986,689 shares of the company’s stock, valued at $18,218,802.90. The disclosure for this sale can be found here. Insiders sold 1,113,308 shares of company stock valued at $6,822,521 over the last three months. 1.06% of the stock is owned by company insiders.
Sirius XM announced that its board has authorized a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.011 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.04 annualized dividend and a yield of 0.67%. Sirius XM’s dividend payout ratio (DPR) is presently 28.57%.
A number of equities analysts recently commented on SIRI shares. BidaskClub upgraded Sirius XM from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. Deutsche Bank upgraded Sirius XM from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.25 to $6.50 in a report on Friday, January 19th. JPMorgan Chase & Co. downgraded Sirius XM from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $5.36 to $5.00 in a report on Tuesday, January 2nd. Barrington Research downgraded Sirius XM from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Finally, Buckingham Research started coverage on Sirius XM in a report on Friday, January 19th. They issued a “buy” rating and a $6.50 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $6.12.
Sirius XM Profile
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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