Prudential Financial Inc. Cuts Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Prudential Financial Inc. lowered its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,047 shares of the company’s stock after selling 2,346 shares during the quarter. Prudential Financial Inc.’s holdings in Sirius XM were worth $275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Congress Wealth Management LLC DE purchased a new stake in Sirius XM during the fourth quarter worth $1,294,000. LPL Financial LLC raised its position in shares of Sirius XM by 43.9% in the 4th quarter. LPL Financial LLC now owns 103,960 shares of the company’s stock worth $2,370,000 after acquiring an additional 31,712 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Sirius XM during the 4th quarter worth $896,000. KLP Kapitalforvaltning AS bought a new stake in Sirius XM during the fourth quarter valued at about $1,036,000. Finally, AXQ Capital LP purchased a new position in Sirius XM in the fourth quarter valued at about $280,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $20.08 on Friday. Sirius XM Holdings Inc. has a 52 week low of $18.69 and a 52 week high of $41.60. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.80 billion, a P/E ratio of -3.13, a P/E/G ratio of 0.79 and a beta of 0.98. The business’s 50 day moving average price is $23.60 and its 200 day moving average price is $24.25.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.38%. Sirius XM’s dividend payout ratio (DPR) is -16.85%.

Analyst Upgrades and Downgrades

SIRI has been the subject of several analyst reports. Guggenheim decreased their price target 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. Morgan Stanley decreased their target price on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Barrington Research set a $28.00 price target on shares of Sirius XM in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, December 19th. Finally, Rosenblatt Securities lowered their price objective on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Six research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.