Legal & General Group Plc Makes New $238.99 Million Investment in Sirius XM Holdings Inc. $SIRI

Legal & General Group Plc acquired a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,041,888 shares of the company’s stock, valued at approximately $238,990,000. Legal & General Group Plc owned about 1.79% of Sirius XM at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC purchased a new stake in Sirius XM in the fourth quarter valued at approximately $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Sirius XM by 11.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after purchasing an additional 92,111 shares during the period. Focus Partners Wealth boosted its holdings in shares of Sirius XM by 5.2% in the 1st quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock valued at $367,000 after purchasing an additional 800 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $208,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Sirius XM

In related news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SIRI has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating on shares of Sirius XM in a report on Wednesday, July 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Sirius XM in a report on Tuesday, July 28th. Bank of America restated an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Citigroup restated a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. Finally, Evercore set a $28.00 price objective on Sirius XM in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.92.

Sirius XM Stock Down 0.8%

NASDAQ SIRI opened at $28.51 on Thursday. The stock has a market cap of $9.61 billion, a PE ratio of 11.40, a P/E/G ratio of 0.62 and a beta of 0.95. Sirius XM Holdings Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $32.66. The business has a 50 day moving average price of $29.63 and a two-hundred day moving average price of $26.43. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is presently 43.20%.

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.