Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 67.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,814 shares of the company’s stock after selling 32,999 shares during the quarter. Principal Financial Group Inc.’s holdings in Sirius XM were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SIRI. Coston McIsaac & Partners boosted its position in Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. TCTC Holdings LLC purchased a new stake in Sirius XM during the third quarter worth $29,000. Princeton Global Asset Management LLC boosted its holdings in Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares in the last quarter. Riverview Capital Advisers LLC acquired a new stake in Sirius XM during the second quarter valued at $35,000. Finally, Plato Investment Management Ltd purchased a new position in Sirius XM in the second quarter valued at $35,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the purchase, the insider now directly owns 110,276,790 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this link. In the last three months, insiders acquired 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SIRI has been the subject of a number of research analyst reports. Guggenheim restated a “buy” rating and set a $30.00 price objective on shares of Sirius XM in a research report on Wednesday, December 11th. StockNews.com began coverage on Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. Seaport Res Ptn downgraded shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.58.

Sirius XM Price Performance

Shares of Sirius XM stock opened at $23.13 on Tuesday. Sirius XM Holdings Inc. has a twelve month low of $20.47 and a twelve month high of $55.45. The stock has a market capitalization of $7.85 billion, a P/E ratio of -3.65 and a beta of 1.05. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $25.28 and its 200 day moving average price is $28.12.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s dividend payout ratio is presently -17.03%.

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.