JPMorgan Chase & Co. Increases Stake in Sirius XM Holdings Inc. $SIRI

JPMorgan Chase & Co. grew its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 52.8% in the third quarter, HoldingsChannel.com reports. The firm owned 339,511 shares of the company’s stock after buying an additional 117,250 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sirius XM were worth $7,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SIRI. Berkshire Hathaway Inc increased its stake in shares of Sirius XM by 4.2% in the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after buying an additional 5,030,425 shares during the period. Quantbot Technologies LP boosted its position in Sirius XM by 66.3% during the 3rd quarter. Quantbot Technologies LP now owns 133,014 shares of the company’s stock valued at $3,096,000 after buying an additional 53,019 shares during the period. Brighton Jones LLC bought a new stake in Sirius XM in the 4th quarter worth $622,000. Hsbc Holdings PLC grew its holdings in Sirius XM by 779.4% in the 2nd quarter. Hsbc Holdings PLC now owns 115,237 shares of the company’s stock worth $2,639,000 after acquiring an additional 102,133 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Sirius XM by 292.5% in the third quarter. SG Americas Securities LLC now owns 113,728 shares of the company’s stock valued at $2,647,000 after acquiring an additional 84,751 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Trading Down 0.4%

NASDAQ:SIRI opened at $22.76 on Tuesday. The company has a 50-day moving average price of $21.55 and a 200-day moving average price of $21.59. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 0.39 and a beta of 0.92. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75. Sirius XM Holdings Inc. has a 12 month low of $18.69 and a 12 month high of $24.92.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 11th were issued a $0.27 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $1.08 annualized dividend and a yield of 4.7%. Sirius XM’s dividend payout ratio (DPR) is 48.21%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SIRI. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $24.00 in a report on Tuesday, February 10th. Barrington Research restated an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a report on Thursday, February 5th. Weiss Ratings lowered Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. Rosenblatt Securities increased their price objective on Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, UBS Group set a $24.00 price objective on Sirius XM in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.44.

Sirius XM Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.