Deutsche Bank AG Decreases Holdings in Sirius XM Holdings Inc. $SIRI

Key Points

• Deutsche Bank AG has significantly reduced its stake in Sirius XM Holdings Inc., lowering its holdings by 77.7% to 38,187 shares following the sale of 132,785 shares.
• Despite Deutsche Bank's sell-off, Berkshire Hathaway Inc. has increased its position in Sirius XM by 11.7%, now owning over 117 million shares worth approximately $2.68 billion.
• Sirius XM recently declared a quarterly dividend of $0.27 per share, yielding 4.6%, with an ex-dividend date on August 8th.

Deutsche Bank AG cut its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 77.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,187 shares of the company's stock after selling 132,785 shares during the period. Deutsche Bank AG's holdings in Sirius XM were worth $861,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Sirius XM in the first quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Sirius XM during the fourth quarter worth approximately $27,000. Deseret Mutual Benefit Administrators raised its position in shares of Sirius XM by 79.3% during the first 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. Itau Unibanco Holding S.A. raised its position in shares of Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company's stock worth $42,000 after purchasing an additional 1,321 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Sirius XM by 3,263.3% during the first quarter. Golden State Wealth Management LLC now owns 2,018 shares of the company's stock worth $46,000 after purchasing an additional 1,958 shares during the period. 10.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SIRI has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Rosenblatt Securities upped their price objective on Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Zacks Research upgraded Sirius XM from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Barrington Research restated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Sirius XM has a consensus rating of "Hold" and a consensus price target of $26.18.

Sirius XM Price Performance

NASDAQ SIRI traded up $0.24 during trading hours on Friday, hitting $23.61. The company had a trading volume of 1,243,583 shares, compared to its average volume of 4,409,848. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $33.10. The firm has a 50 day simple moving average of $22.97 and a 200 day simple moving average of $22.60. 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 $7.95 billion, a price-to-earnings ratio of -3.50, 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 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.22). Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%.The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. Sirius XM has set its FY 2025 guidance at EPS. Equities research analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 4.6%. Sirius XM's dividend payout ratio (DPR) is currently -16.00%.

About Sirius XM

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.