Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 209.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,201 shares of the company’s stock after acquiring an additional 58,993 shares during the period. Franklin Resources Inc.’s holdings in Sirius XM were worth $2,062,000 at the end of the most recent quarter.

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

Sirius XM Price Performance

SIRI stock opened at $23.44 on Friday. The business has a 50 day moving average price of $25.87 and a 200 day moving average price of $28.29. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of -3.70 and a beta of 1.03. Sirius XM Holdings Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $56.80.

Sirius XM Increases Dividend

The business 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. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.61%. Sirius XM’s dividend payout ratio is presently -17.03%.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This trade represents a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 2,646,761 shares of company stock valued at $65,952,329 in the last ninety days. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SIRI. Seaport Res Ptn downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a report on Thursday, September 26th. The Goldman Sachs Group lowered their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. StockNews.com initiated coverage on Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.58.

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.