Northern Trust Corp Boosts Position in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Northern Trust Corp raised its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,309,442 shares of the company's stock after purchasing an additional 72,172 shares during the period. Northern Trust Corp owned 0.39% of Sirius XM worth $29,855,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Sirius XM during the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. bought a new position in shares of Sirius XM in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its holdings in Sirius XM by 574.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company's stock worth $31,000 after buying an additional 1,144 shares during the last quarter. Gables Capital Management Inc. bought a new position in shares of Sirius XM during the 4th quarter worth $43,000. Finally, Avior Wealth Management LLC grew its stake in shares of Sirius XM by 670.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,080 shares of the company's stock worth $47,000 after acquiring an additional 1,810 shares during the period. 10.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SIRI. Morgan Stanley cut their price objective on shares of Sirius XM from $23.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, January 23rd. Seaport Res Ptn raised Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Rosenblatt Securities decreased their price objective on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Guggenheim decreased their price objective on Sirius XM from $30.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, Barrington Research reissued an "outperform" rating and issued a $28.00 target price on shares of Sirius XM in a research note on Friday, May 2nd. Six analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.65.

Sirius XM Price Performance

SIRI stock traded up $0.09 during mid-day trading on Wednesday, hitting $21.88. The company had a trading volume of 3,394,795 shares, compared to its average volume of 5,118,748. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 12-month low of $18.69 and a 12-month high of $41.60. The company has a 50-day moving average price of $21.68 and a 200 day moving average price of $23.58. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of -3.41, a P/E/G ratio of 0.79 and a beta of 0.90.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.11). The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. Sirius XM's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, research analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is currently -16.56%.

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.