1,533,011 Shares in Sirius XM Holdings Inc. $SIRI Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management purchased 1.53 million Sirius XM shares worth approximately $60.6 million, taking a roughly 0.45% stake. Other institutions also made significant purchases, with institutional investors collectively owning 10.69% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $30.92; ratings include four Buys, five Holds and three Sells.
• Sirius XM reported quarterly revenue of $2.16 billion, slightly above estimates, but EPS of $0.70 missed expectations. The company declared a quarterly dividend of $0.27, equivalent to a 3.8% annualized yield.

Northwestern Mutual Wealth Management Co. purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,533,011 shares of the company's stock, valued at approximately $60,554,000. Northwestern Mutual Wealth Management Co. owned approximately 0.45% of Sirius XM as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cadence Wealth Management LLC purchased a new stake in shares of Sirius XM during the second quarter valued at approximately $930,000. Quantbot Technologies LP bought a new stake in shares of Sirius XM in the second quarter worth $9,352,000. Westpac Banking Corp bought a new stake in shares of Sirius XM during the 2nd quarter valued at about $178,000. William Blair Investment Management LLC purchased a new position in shares of Sirius XM in the second quarter worth approximately $143,695,000. Finally, Korea Investment CORP purchased a new position in shares of Sirius XM in the second quarter worth approximately $39,841,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $32.00 price objective on shares of Sirius XM in a research report on Friday, August 7th. Wells Fargo & Company lifted their target price on Sirius XM from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Morgan Stanley boosted their price target on Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Citigroup restated a "sell" rating and issued a $25.00 price target (up from $22.00) on shares of Sirius XM in a research report on Friday, July 31st. Finally, Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.92.

Sirius XM Trading Up 1.1%

SIRI stock opened at $28.69 on Friday. The firm has a fifty day moving average price of $29.58 and a 200 day moving average price of $26.23. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The firm has a market cap of $9.67 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46.

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 business 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%. Sirius XM's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Sirius XM's dividend payout ratio (DPR) is presently 43.20%.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at $550,069.38. The trade was a 47.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.27% of the stock is owned by company insiders.

Sirius XM Company Profile

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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