Stifel Financial Corp Sells 202,622 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Stifel Financial Corp lowered its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 75.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 66,698 shares of the company's stock after selling 202,622 shares during the quarter. Stifel Financial Corp's holdings in Sirius XM were worth $1,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SIRI. Point72 Asset Management L.P. purchased a new stake in shares of Sirius XM during the second quarter worth about $12,858,000. Sessa Capital IM L.P. purchased a new stake in Sirius XM in the 3rd quarter worth approximately $77,983,000. Thompson Siegel & Walmsley LLC purchased a new stake in Sirius XM in the 3rd quarter worth approximately $67,598,000. Seizert Capital Partners LLC bought a new stake in shares of Sirius XM in the 3rd quarter worth approximately $46,173,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Sirius XM during the second quarter valued at approximately $5,192,000. Institutional investors own 10.69% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on SIRI shares. Benchmark reaffirmed a "buy" rating and issued a $43.00 price target on shares of Sirius XM in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. Rosenblatt Securities boosted their price target on shares of Sirius XM from $28.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Pivotal Research decreased their price target on shares of Sirius XM from $40.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Seaport Res Ptn cut Sirius XM from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $27.58.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the acquisition, the insider now directly owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. The trade was a 0.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have bought 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by insiders.

Sirius XM Stock Up 12.1 %

NASDAQ:SIRI traded up $2.50 during trading hours on Friday, reaching $23.08. 14,517,520 shares of the company traded hands, compared to its average volume of 3,803,394. Sirius XM Holdings Inc. has a 1 year low of $20.47 and a 1 year high of $56.80. The stock has a market capitalization of $7.83 billion, a P/E ratio of -3.64 and a beta of 1.03. The business's 50-day moving average price is $26.16 and its two-hundred day moving average price is $28.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $0.27 dividend. This is a boost from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.68%. Sirius XM's payout ratio is presently -17.03%.

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.