Alberta Investment Management Corp Increases Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Alberta Investment Management Corp increased its position in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,272,526 shares of the company’s stock after purchasing an additional 36,300 shares during the period. Alberta Investment Management Corp’s holdings in Sirius XM were worth $29,014,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Coston McIsaac & Partners grew its holdings in Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after buying an additional 624 shares in the last quarter. Mill Creek Capital Advisors LLC grew its holdings in shares of Sirius XM by 5.8% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 15,273 shares of the company’s stock worth $348,000 after purchasing an additional 837 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Sirius XM by 574.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock worth $31,000 after purchasing an additional 1,144 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Sirius XM during the fourth quarter worth about $26,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Sirius XM by 7.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 16,502 shares of the company’s stock worth $356,000 after purchasing an additional 1,202 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Analysts Set New Price Targets

SIRI has been the subject of several recent analyst reports. Rosenblatt Securities cut their price objective on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com assumed coverage on Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating for the company. Seaport Res Ptn cut Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Guggenheim reduced their price target on Sirius XM from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley reduced their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.96.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $26.52 on Wednesday. The stock has a 50-day moving average price of $23.32 and a 200 day moving average price of $25.86. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 12-month low of $20.47 and a 12-month high of $48.55.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share 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 fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, February 7th. Sirius XM’s dividend payout ratio is presently -16.85%.

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.