The Manufacturers Life Insurance Company Has $1.40 Million Stock Position in Sirius XM Holdings Inc. $SIRI

The Manufacturers Life Insurance Company lowered its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 38.0% during the first quarter, Holdings Channel reports. The firm owned 60,642 shares of the company’s stock after selling 37,239 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sirius XM were worth $1,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quantinno Capital Management LP raised its holdings in Sirius XM by 37.8% during the first quarter. Quantinno Capital Management LP now owns 107,336 shares of the company’s stock valued at $2,477,000 after buying an additional 29,419 shares in the last quarter. SummitTX Capital L.P. boosted its stake in shares of Sirius XM by 12.5% during the 1st quarter. SummitTX Capital L.P. now owns 173,235 shares of the company’s stock worth $3,998,000 after acquiring an additional 19,275 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Sirius XM during the 1st quarter worth about $1,243,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Sirius XM during the 1st quarter valued at about $20,795,000. Finally, Aspen Grove Capital LLC acquired a new position in shares of Sirius XM during the 1st quarter valued at about $2,277,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Insider Activity

In related news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director owned 18,354 shares in the company, valued at approximately $550,069.38. This trade represents a 47.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SIRI shares. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Benchmark restated a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Evercore set a $28.00 price objective on shares of Sirius XM in a report on Friday, May 1st. Finally, Morgan Stanley raised their target price on shares of Sirius XM from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $30.92.

Sirius XM Stock Down 3.8%

SIRI opened at $28.78 on Tuesday. Sirius XM Holdings Inc. has a 1-year low of $19.76 and a 1-year high of $32.66. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 0.65 and a beta of 0.95. The business has a 50 day moving average of $29.43 and a 200-day moving average of $25.76.

Sirius XM (NASDAQ:SIRI) last announced its earnings results 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). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is currently 43.20%.

About Sirius XM

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.