Legal & General Group Plc Acquires Shares of 6,041,888 Sirius XM Holdings Inc. $SIRI

Legal & General Group Plc acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,041,888 shares of the company’s stock, valued at approximately $238,990,000.

Other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of Sirius XM by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after buying an additional 340 shares during the last quarter. Altshuler Shaham Ltd increased its stake in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Sirius XM by 33.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock worth $55,000 after buying an additional 463 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Sirius XM by 5.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock valued at $291,000 after acquiring an additional 509 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on SIRI. UBS Group set a $30.00 price objective on shares of Sirius XM in a report on Wednesday, July 29th. Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Sirius XM in a research note on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Morgan Stanley lifted their price target on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $30.92.

Sirius XM Trading Down 0.8%

Shares of NASDAQ SIRI opened at $28.51 on Thursday. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a 12-month low of $19.76 and a 12-month high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $29.63 and its 200 day simple moving average is $26.43.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. Sirius XM’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio is currently 43.20%.

Insider Buying and Selling

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.27% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.