State Street Corp Sells 8,618,217 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

State Street Corp lessened its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 67.0% in the third quarter, Holdings Channel reports. The firm owned 4,250,163 shares of the company’s stock after selling 8,618,217 shares during the period. State Street Corp’s holdings in Sirius XM were worth $100,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Coston McIsaac & Partners boosted its holdings in shares of Sirius XM by 113.5% in 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 during the last quarter. TCTC Holdings LLC bought a new stake in Sirius XM in the third quarter worth about $29,000. Princeton Global Asset Management LLC raised its position in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after acquiring an additional 1,315 shares during the period. Plato Investment Management Ltd purchased a new position in Sirius XM in the second quarter valued at about $35,000. Finally, Riverview Capital Advisers LLC bought a new position in shares of Sirius XM during the 2nd quarter valued at approximately $35,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $24.11 on Monday. Sirius XM Holdings Inc. has a 12 month low of $22.18 and a 12 month high of $57.80. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.18 billion, a P/E ratio of -3.80 and a beta of 1.03. The company has a 50 day moving average of $26.35 and a 200 day moving average of $28.57.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.48%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is presently -17.03%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the transaction, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. This trade represents a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SIRI shares. Benchmark reiterated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. StockNews.com assumed coverage on Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating on the stock. Citigroup lifted their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price objective on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Six research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.27.

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.