Associated Banc Corp Purchases New Shares in Sirius XM Holdings Inc. $SIRI

Key Points

• Associated Banc Corp opened a new Sirius XM position, buying 109,007 shares worth approximately $2.82 million in the third quarter.
• Sirius XM’s third-quarter results slightly beat earnings-per-share expectations at $0.78, while revenue of $2.15 billion fell just short of estimates and declined 0.4% year over year. The company raised its full-year 2026 earnings guidance.
• Institutional interest and analyst views were mixed: several major funds increased holdings, while the consensus rating remained “Hold” with a $32.92 price target; JPMorgan also lowered its target to $32.

Associated Banc Corp purchased a new position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,007 shares of the company's stock, valued at approximately $2,821,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Sirius XM by 82.9% in the second quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock worth $519,970,000 after buying an additional 7,977,045 shares in the last quarter. State Street Corp increased its stake in Sirius XM by 68.9% during the second quarter. State Street Corp now owns 5,992,497 shares of the company's stock worth $177,018,000 after acquiring an additional 2,444,881 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sirius XM by 262.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company's stock valued at $145,426,000 after purchasing an additional 4,560,821 shares during the last quarter. Bank of New York Mellon Corp increased its position in Sirius XM by 38.3% during the second quarter. Bank of New York Mellon Corp now owns 3,012,240 shares of the company's stock valued at $88,982,000 after acquiring an additional 834,479 shares during the last quarter. Finally, Check Capital Management Inc. CA grew its holdings in Sirius XM by 2.0% during the 1st quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company's stock valued at $67,915,000 after purchasing an additional 59,095 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

Key Headlines Impacting Sirius XM

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Sirius XM raised its full-year 2026 earnings guidance. Third-quarter revenue was about $2.15 billion and net income was $317 million; the company’s cost discipline and improved earnings helped bolster the outlook despite modest top-line growth. Article: Sirius XM Stock Gains Support After Earnings Guidance Raise
• Positive Sentiment: Berkshire Hathaway added nearly one million Sirius XM shares, reinforcing a prominent investor’s support. The purchase followed the company’s better-than-expected third-quarter earnings and accompanied the stock’s rally to a 52-week high. Article: Berkshire Hathaway Buys More Sirius XM, Sending Stock to 52-Week High
• Positive Sentiment: Goldman Sachs upgraded the shares to Buy and raised its price target to $37, citing potential value in YouTube and the company’s spectrum assets. Article: Goldman raises Sirius XM PT, citing YouTube and spectrum value
• Neutral Sentiment: Call-option trading was unusually active, with volume about 95% above its average. This suggests increased speculative interest but does not guarantee continued gains.
• Neutral Sentiment: A limited-time Wu-Tang Clan channel and fan Q&A add programming and promotional visibility, but the reports provide no indication of a material financial impact. Article: Wu-Tang Clan Takes Over SiriusXM With New Channel & Fan Q&A
• Negative Sentiment: JPMorgan cut its price target from $34 to $32 and maintained a Neutral rating, signaling caution after the recent run-up.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $33.40 on Thursday. The company has a market capitalization of $11.24 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.32 and a current ratio of 0.32. The company's fifty day moving average price is $27.68 and its 200 day moving average price is $26.32. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $33.59.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.01. Sirius XM had a net margin of 10.47% and a return on equity of 9.42%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company's revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 6th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 6th. Sirius XM's dividend payout ratio (DPR) is 44.26%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BNP Paribas Exane downgraded shares of Sirius XM to a "neutral" rating in a research note on Wednesday, September 2nd. Morgan Stanley raised their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Scotiabank initiated coverage on shares of Sirius XM in a report on Wednesday, September 2nd. They issued an "outperform" rating for the company. Weiss Ratings upgraded shares of Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Finally, Benchmark reaffirmed a "buy" rating on shares of Sirius XM in a research report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $32.92.

About Sirius XM

Sirius XM Holdings Inc is a media and entertainment company that provides subscription-based audio programming through its SiriusXM service. The company delivers a broad range of commercial-free music, live sports, news, talk and entertainment programming, including exclusive channels, original shows and coverage of major events.

SiriusXM content is distributed primarily through satellite radio and internet streaming. Subscribers can access the service in vehicles, through the SiriusXM mobile app and website, and on supported connected devices.

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