Sirius XM Holdings Inc. (NASDAQ:SIRI) Increases Dividend to $0.27 Per Share

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.27 per share on Thursday, November 21st. This represents a $1.08 annualized dividend and a yield of 3.97%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has increased its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Sirius XM has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Sirius XM to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 3.2%.

Sirius XM Stock Performance

Shares of SIRI stock traded up $0.03 during trading on Tuesday, hitting $27.21. The company had a trading volume of 5,029,619 shares, compared to its average volume of 3,332,857. The firm has a market capitalization of $104.67 billion, a P/E ratio of 82.85, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The stock’s 50-day moving average price is $27.22 and its 200 day moving average price is $29.72.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. On average, research analysts anticipate that Sirius XM will post 3.25 earnings per share for the current fiscal year.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the company’s stock in a transaction on Friday, October 18th. The stock was acquired at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the transaction, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,646,761 shares of company stock worth $65,952,329. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

SIRI has been the subject of several recent analyst reports. StockNews.com initiated coverage on Sirius XM in a research note on Sunday. They set a “hold” rating for the company. Barrington Research restated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Citigroup lifted their target price on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Finally, Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.25.

Sirius XM Company 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.