Allianz Asset Management GmbH Takes Position in Sirius XM Holdings Inc. $SIRI

Allianz Asset Management GmbH bought a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 267,105 shares of the company’s stock, valued at approximately $6,217,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SIRI. Sound Income Strategies LLC purchased a new position in Sirius XM during the third quarter worth $33,000. Quaker Wealth Management LLC lifted its holdings in shares of Sirius XM by 214.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock worth $37,000 after acquiring an additional 3,001 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Sirius XM by 47.8% during the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock worth $37,000 after purchasing an additional 523 shares during the period. Geneos Wealth Management Inc. grew its holdings in Sirius XM by 36.7% during 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, Mather Group LLC. bought a new position in Sirius XM during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of SIRI stock opened at $20.95 on Tuesday. Sirius XM Holdings Inc. has a twelve month low of $18.69 and a twelve month high of $27.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $20.96 and a two-hundred day simple moving average of $21.80. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.29 and a beta of 0.93.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 11th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.08 dividend on an annualized basis and a yield of 5.2%. Sirius XM’s dividend payout ratio is 48.21%.

Analyst Upgrades and Downgrades

SIRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Barrington Research restated an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a report on Thursday, February 5th. Weiss Ratings downgraded Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Benchmark reiterated a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Sirius XM in a research report on Friday, October 31st. Finally, Rosenblatt Securities boosted their target price on shares of Sirius XM from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $24.00.

Sirius XM Company 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.