Truist Financial Corp Makes New Investment in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Truist Financial Corp acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,094 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM during the 4th quarter valued at about $26,000. TCTC Holdings LLC purchased a new position in shares of Sirius XM in the third quarter worth about $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of Sirius XM by 574.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock worth $31,000 after purchasing an additional 1,144 shares during the period. Avior Wealth Management LLC boosted its position in Sirius XM by 670.4% in the fourth quarter. Avior Wealth Management LLC now owns 2,080 shares of the company’s stock valued at $47,000 after buying an additional 1,810 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Sirius XM in the 3rd quarter worth approximately $51,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Stock Performance

Shares of SIRI stock opened at $23.23 on Thursday. The company has a market capitalization of $7.87 billion, a P/E ratio of -3.62, a P/E/G ratio of 0.79 and a beta of 1.06. Sirius XM Holdings Inc. has a 12-month low of $20.47 and a 12-month high of $42.50. The business’s 50 day moving average is $23.59 and its two-hundred day moving average is $25.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. Analysts expect that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 4.65%. Sirius XM’s dividend payout ratio (DPR) is -16.85%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barrington Research set a $28.00 price objective on shares of Sirius XM in a research note on Friday, January 31st. Morgan Stanley decreased their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Guggenheim cut their price target on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Rosenblatt Securities reduced their price objective on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.81.

Sirius XM 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.