Principal Financial Group Inc. Decreases Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Principal Financial Group Inc. lowered its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 67.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,814 shares of the company’s stock after selling 32,999 shares during the period. Principal Financial Group Inc.’s holdings in Sirius XM were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SIRI. Point72 Asset Management L.P. purchased a new position in shares of Sirius XM during the second quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP grew its position in Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after acquiring an additional 353,860 shares during the last quarter. AQR Capital Management LLC increased its stake in Sirius XM by 14.5% in the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares during the period. Sessa Capital IM L.P. bought a new stake in shares of Sirius XM during the third quarter worth $77,983,000. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of Sirius XM during the third quarter valued at $67,598,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SIRI. The Goldman Sachs Group reduced their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Rosenblatt Securities upped their target price on Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Barrington Research cut their price target on Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company decreased their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Finally, Seaport Res Ptn downgraded Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus target price of $27.58.

Sirius XM Stock Up 3.4 %

NASDAQ:SIRI opened at $23.13 on Tuesday. 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 Holdings Inc. has a twelve month low of $20.47 and a twelve month high of $55.45. The company has a market cap of $7.85 billion, a PE ratio of -3.65 and a beta of 1.05. The company’s 50 day moving average is $25.28 and its two-hundred day moving average is $28.12.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders 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 is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.67%. Sirius XM’s payout ratio is -17.03%.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought 2,646,761 shares of company stock worth $65,952,329 in the last 90 days. Insiders own 0.79% of the company’s stock.

About Sirius XM

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.