The Manufacturers Life Insurance Company Lowers Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

The Manufacturers Life Insurance Company lowered its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 95.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,813 shares of the company’s stock after selling 268,787 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sirius XM were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Coston McIsaac & Partners lifted its holdings in Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after buying an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of Sirius XM in the 3rd quarter valued at $29,000. Bfsg LLC raised its holdings in shares of Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after purchasing an additional 1,235 shares in the last quarter. Princeton Global Asset Management LLC raised its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Sirius XM by 139.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock valued at $75,000 after purchasing an additional 1,858 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Stock Down 2.8 %

SIRI stock opened at $24.11 on Monday. The company has a market cap of $8.18 billion, a P/E ratio of -3.80 and a beta of 1.03. Sirius XM Holdings Inc. has a 52 week low of $22.18 and a 52 week high of $57.80. The company’s 50-day moving average price is $26.35 and its 200 day moving average price is $28.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.48%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is currently -17.03%.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Pivotal Research cut their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Barrington Research cut their price target on shares of Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Rosenblatt Securities raised their price objective on shares of Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Six 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, the company has a consensus rating of “Hold” and a consensus price target of $28.27.

Insiders Place Their Bets

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the transaction, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.83 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

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.