Ameriprise Financial Inc. Has $37.66 Million Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Ameriprise Financial Inc. grew its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 69.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,651,891 shares of the company's stock after acquiring an additional 675,924 shares during the quarter. Ameriprise Financial Inc. owned about 0.49% of Sirius XM worth $37,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LSV Asset Management acquired a new stake in Sirius XM in the fourth quarter worth about $51,535,000. Norges Bank bought a new position in Sirius XM during the 4th quarter valued at $28,269,000. Check Capital Management Inc. CA raised its position in Sirius XM by 597.7% in the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock worth $26,123,000 after acquiring an additional 981,517 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Sirius XM by 43.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,068,251 shares of the company's stock valued at $47,156,000 after purchasing an additional 625,044 shares during the last quarter. Finally, Capital Management Corp VA bought a new position in shares of Sirius XM in the fourth quarter valued at $11,339,000. Institutional investors own 10.69% of the company's stock.

Sirius XM Stock Up 1.7%

SIRI stock traded up $0.37 during midday trading on Friday, reaching $22.73. The company had a trading volume of 3,533,583 shares, compared to its average volume of 5,128,663. The company has a 50 day moving average of $21.57 and a two-hundred day moving average of $23.54. The company has a market capitalization of $7.68 billion, a P/E ratio of -3.55, a PEG ratio of 0.79 and a beta of 0.90. Sirius XM Holdings Inc. has a 1 year low of $18.69 and a 1 year high of $41.60. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sirius XM's revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is presently -16.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SIRI shares. Morgan Stanley cut their target price on Sirius XM from $23.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, January 23rd. Barrington Research reissued an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Guggenheim reduced their price objective on shares of Sirius XM from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Rosenblatt Securities decreased their target price on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.65.

Sirius XM Company 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.