1,239,874 Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,239,874 shares of the company’s stock, valued at approximately $28,269,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. grew its holdings in shares of Sirius XM by 4.5% in the fourth quarter. Xponance Inc. now owns 12,341 shares of the company’s stock valued at $281,000 after purchasing an additional 527 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sirius XM by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock worth $339,000 after acquiring an additional 630 shares during the period. Wealthspire Advisors LLC increased its holdings in Sirius XM by 4.3% during the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock worth $358,000 after purchasing an additional 643 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Sirius XM by 5.9% during the fourth quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company’s stock valued at $325,000 after buying an additional 791 shares during the period. Finally, Mill Creek Capital Advisors LLC increased its position in Sirius XM by 5.8% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 15,273 shares of the company’s stock valued at $348,000 after purchasing an additional 837 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Stock Down 7.7 %

Shares of SIRI opened at $19.51 on Monday. Sirius XM Holdings Inc. has a one year low of $19.01 and a one year high of $41.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a 50 day moving average price of $23.91 and a 200 day moving average price of $24.43. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of -3.04, a PEG ratio of 0.79 and a beta of 0.98.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. Equities research analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Friday, February 7th. Sirius XM’s payout ratio is presently -16.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SIRI shares. Barrington Research set a $28.00 price target on Sirius XM in a research report on Friday, January 31st. Rosenblatt Securities lowered their price objective on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, December 19th. Guggenheim decreased their target price on shares of Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Seaport Res Ptn lowered Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $26.81.

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.