Raymond James Financial Inc. Has $21.41 Million Holdings in Sirius XM Holdings Inc. $SIRI

Key Points

• Raymond James Financial Inc. increased its stake in Sirius XM Holdings Inc. by 11.7% in the first quarter, acquiring an additional 99,389 shares to own a total of 949,582 shares worth $21.4 million.
• Institutional investors now own 10.69% of Sirius XM, with other notable increases from firms like Berkshire Hathaway, which added over 12 million shares during the last quarter.
• Sirius XM's recent quarterly earnings report showed a decline in revenue of 1.8% year-over-year, reporting $0.57 earnings per share, which was below analyst expectations.

Raymond James Financial Inc. raised its position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 949,582 shares of the company's stock after acquiring an additional 99,389 shares during the period. Raymond James Financial Inc. owned approximately 0.28% of Sirius XM worth $21,408,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SIRI. Berkshire Hathaway Inc boosted its holdings in shares of Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after acquiring an additional 12,313,544 shares during the period. Toronto Dominion Bank bought a new stake in shares of Sirius XM during the fourth quarter worth approximately $22,398,000. LSV Asset Management boosted its holdings in shares of Sirius XM by 41.5% during the first quarter. LSV Asset Management now owns 3,197,800 shares of the company's stock worth $72,094,000 after acquiring an additional 937,500 shares during the period. Ensign Peak Advisors Inc bought a new stake in shares of Sirius XM during the fourth quarter worth approximately $19,052,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Sirius XM by 69.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,651,891 shares of the company's stock worth $37,663,000 after acquiring an additional 675,924 shares during the period. Institutional investors own 10.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SIRI shares. Guggenheim restated a "buy" rating and set a $29.00 price objective on shares of Sirius XM in a report on Thursday, June 26th. Wells Fargo & Company dropped their price target on shares of Sirius XM from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Zacks Research upgraded shares of Sirius XM from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Rosenblatt Securities lifted their price target on shares of Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $26.18.

Sirius XM Price Performance

SIRI traded up $0.27 during trading on Friday, hitting $23.64. 2,568,093 shares of the stock traded hands, compared to its average volume of 4,433,618. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $33.10. The company has a market cap of $7.96 billion, a price-to-earnings ratio of -3.50, a PEG ratio of 0.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.41 and a quick ratio of 0.41. The business has a 50 day moving average price of $23.01 and a 200 day moving average price of $22.58.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 26.41% and a positive return on equity of 3.73%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. Sirius XM has set its FY 2025 guidance at EPS. Equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 4.6%. Sirius XM's dividend payout ratio is -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.