Principal Financial Group Inc. acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 427,966 shares of the company’s stock, valued at approximately $12,642,000.
A number of other institutional investors also recently bought and sold shares of SIRI. Valeo Financial Advisors LLC grew its stake in shares of Sirius XM by 3.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after purchasing an additional 340 shares during the period. Altshuler Shaham Ltd increased its holdings in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after buying an additional 417 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock worth $291,000 after acquiring an additional 509 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Sirius XM by 28.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,562 shares of the company’s stock valued at $76,000 after acquiring an additional 560 shares during the period. Institutional investors own 10.69% of the company’s stock.
Insider Buying and Selling
In other news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total transaction of $499,659.84. Following the completion of the transaction, the director directly owned 18,354 shares in the company, valued at approximately $550,069.38. This represents a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.27% of the company’s stock.
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. On average, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.
Sirius XM Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is currently 43.20%.
Analyst Upgrades and Downgrades
SIRI has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Sirius XM from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. UBS Group set a $30.00 price target on Sirius XM in a report on Wednesday, July 29th. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Finally, Barrington Research lifted their price objective on Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $30.92.
Check Out Our Latest Stock Analysis on SIRI
About Sirius XM
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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