Stifel Financial Corp Sells 202,622 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Stifel Financial Corp trimmed its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 75.2% in the third quarter, HoldingsChannel reports. The fund owned 66,698 shares of the company’s stock after selling 202,622 shares during the period. Stifel Financial Corp’s holdings in Sirius XM were worth $1,577,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Sirius XM during the second quarter valued at approximately $12,858,000. Sessa Capital IM L.P. purchased a new position in shares of Sirius XM in the 3rd quarter worth about $77,983,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Sirius XM during the third quarter valued at approximately $67,598,000. Seizert Capital Partners LLC purchased a new stake in shares of Sirius XM during the third quarter valued at $46,173,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Sirius XM during the second quarter valued at approximately $5,192,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday. Seaport Res Ptn downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Barrington Research cut their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Finally, Bank of America reissued an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Six equities 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 company. Based on data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average target price of $27.58.

Sirius XM Trading Up 12.1 %

SIRI stock opened at $23.08 on Friday. The firm has a fifty day moving average price of $26.16 and a 200 day moving average price of $28.36. Sirius XM Holdings Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $56.80. The firm has a market cap of $7.83 billion, a PE ratio of -3.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Sirius XM Increases Dividend

The firm also recently announced 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 was Tuesday, November 5th. This is an increase 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 4.68%. Sirius XM’s payout ratio is -17.03%.

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.