AIA Group Ltd Acquires New Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Key Points

• AIA Group Ltd has acquired 15,822 shares of Sirius XM Holdings Inc., valued at approximately $357,000, indicating institutional interest in the stock.
• According to analysts, Sirius XM has a current consensus rating of "Hold" with a consensus price target of $26.18, reflecting mixed opinions on its future performance.
• Sirius XM declared a quarterly dividend of $0.27, with an annualized yield of 5.1%, despite a negative net margin and a recent earnings miss.

AIA Group Ltd acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,822 shares of the company's stock, valued at approximately $357,000.

A number of other hedge funds have also made changes to their positions in SIRI. Applied Finance Capital Management LLC boosted its stake in Sirius XM by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 9,779 shares of the company's stock worth $220,000 after purchasing an additional 475 shares during the period. Allegiance Financial Group Advisory Services LLC boosted its stake in Sirius XM by 5.5% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 12,678 shares of the company's stock worth $286,000 after purchasing an additional 660 shares during the period. Polianta Ltd boosted its stake in Sirius XM by 1.5% in the 1st quarter. Polianta Ltd now owns 48,300 shares of the company's stock worth $1,088,000 after purchasing an additional 700 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in Sirius XM by 79.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,594 shares of the company's stock worth $36,000 after purchasing an additional 705 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Sirius XM by 37.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company's stock worth $68,000 after purchasing an additional 823 shares during the period. Institutional investors and hedge funds own 10.69% of the company's stock.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director directly owned 15,471 shares of the company's stock, valued at approximately $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SIRI shares. Morgan Stanley lifted their target price on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Guggenheim reissued a "buy" rating and set a $29.00 target price on shares of Sirius XM in a research note on Thursday, June 26th. Barrington Research reissued an "outperform" rating and set a $28.00 target price on shares of Sirius XM in a research note on Friday, August 1st. Rosenblatt Securities lifted their target price on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company cut their price target on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Six analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.18.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI traded down $0.46 on Friday, hitting $23.03. 3,294,068 shares of the company were exchanged, compared to its average volume of 4,857,717. The company's 50 day moving average price is $22.77 and its two-hundred day moving average price is $22.69. Sirius XM Holdings Inc. has a one year low of $18.69 and a one year high of $36.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of -3.41, a PEG ratio of 0.36 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a negative net margin of 26.41% and a positive return on equity of 3.73%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.80 earnings per share. Sirius XM's revenue was down 1.8% on a year-over-year basis. Research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 8th. Sirius XM's dividend payout ratio is currently -16.00%.

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.