Sirius XM Holdings Inc. (NASDAQ:SIRI) Declares Dividend Increase – $0.27 Per Share

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has raised its dividend by an average of 22.0% per year over the last three years. Sirius XM has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sirius XM to earn $3.25 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 33.2%.

Sirius XM Price Performance

Shares of SIRI opened at $27.65 on Friday. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of -4.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The business’s 50 day simple moving average is $26.52 and its 200-day simple moving average is $29.36.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, sell-side analysts expect that Sirius XM will post 3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SIRI has been the topic of several recent research reports. Pivotal Research decreased their target price on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com began coverage on Sirius XM in a research report on Monday, October 28th. They set a “hold” rating on the stock. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price on the stock. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a research note on Tuesday, October 29th. Five 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.69.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the stock in a transaction on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the transaction, the insider now owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 in the last ninety days. 0.79% of the stock is owned by company insiders.

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.