Congress Wealth Management LLC DE Purchases New Shares in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Congress Wealth Management LLC DE acquired a new position in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,756 shares of the company’s stock, valued at approximately $1,294,000.

Several other institutional investors have also recently made changes to their positions in SIRI. Xponance Inc. boosted its position in Sirius XM by 4.5% during the fourth quarter. Xponance Inc. now owns 12,341 shares of the company’s stock worth $281,000 after purchasing an additional 527 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Sirius XM by 4.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,856 shares of the company’s stock worth $339,000 after buying an additional 630 shares during the period. Wealthspire Advisors LLC grew its stake in Sirius XM by 4.3% in the 4th quarter. Wealthspire Advisors LLC now owns 15,686 shares of the company’s stock valued at $358,000 after buying an additional 643 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Sirius XM by 5.9% during the 4th quarter. Proficio Capital Partners LLC now owns 14,258 shares of the company’s stock valued at $325,000 after acquiring an additional 791 shares during the period. Finally, Mill Creek Capital Advisors LLC lifted its position 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 acquiring an additional 837 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

SIRI opened at $23.82 on Friday. The stock has a market capitalization of $8.07 billion, a P/E ratio of -3.72, a PEG ratio of 0.79 and a beta of 1.06. 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 $41.60. The stock has a 50-day moving average price of $23.97 and a 200-day moving average price of $24.59.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) 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 analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, February 7th. Sirius XM’s dividend payout ratio is currently -16.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SIRI. Rosenblatt Securities reduced their price target 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. Guggenheim reduced their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley reduced their price objective on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, Barrington Research set a $28.00 target price on shares of Sirius XM in a research note on Friday, January 31st. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.81.

Sirius XM Profile

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.