Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Shareholders of record on Thursday, February 9th will be paid a dividend of 0.0242 per share on Friday, February 24th. This represents a $0.10 annualized dividend and a yield of 1.64%. This is a boost from Sirius XM’s previous quarterly dividend of $0.02.
Sirius XM has raised its dividend payment by an average of 90.0% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Sirius XM has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sirius XM to earn $0.33 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 30.3%.
Sirius XM Trading Up 2.1 %
SIRI stock traded up $0.12 during mid-day trading on Wednesday, hitting $5.91. The stock had a trading volume of 16,112,561 shares, compared to its average volume of 12,270,892. Sirius XM has a 1-year low of $5.69 and a 1-year high of $6.88. The company has a fifty day moving average of $6.06 and a 200 day moving average of $6.18. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.56 and a beta of 0.95.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SIRI shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $8.00 to $7.50 in a report on Wednesday, November 2nd. StockNews.com initiated coverage on Sirius XM in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley decreased their target price on Sirius XM from $6.50 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, October 19th. Credit Suisse Group decreased their target price on Sirius XM from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, January 12th. Finally, Pivotal Research decreased their target price on Sirius XM from $7.10 to $6.75 in a research note on Wednesday, November 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus price target of $6.63.
Insider Activity at Sirius XM
In related news, Director Kristina Salen sold 44,670 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $6.46, for a total transaction of $288,568.20. Following the completion of the sale, the director now directly owns 93,969 shares of the company’s stock, valued at approximately $607,039.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.63% of the company’s stock.
Institutional Investors Weigh In On Sirius XM
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Sirius XM by 22.6% in the 1st quarter. Northern Trust Corp now owns 13,108,517 shares of the company’s stock valued at $86,779,000 after buying an additional 2,413,360 shares during the period. Invesco Ltd. boosted its position in shares of Sirius XM by 63.8% in the 1st quarter. Invesco Ltd. now owns 7,896,786 shares of the company’s stock worth $52,277,000 after purchasing an additional 3,074,638 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Sirius XM by 38.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,763,561 shares of the company’s stock worth $31,535,000 after purchasing an additional 1,310,891 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Sirius XM by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,758,903 shares of the company’s stock worth $31,504,000 after purchasing an additional 84,134 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Sirius XM by 159.5% in the 1st quarter. UBS Group AG now owns 1,886,455 shares of the company’s stock worth $12,488,000 after purchasing an additional 1,159,537 shares during the last quarter. 10.10% of the stock is owned by institutional investors and hedge funds.
Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.
- Get a free copy of the StockNews.com research report on Sirius XM (SIRI)
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