Sirius XM Holdings Inc. (NASDAQ:SIRI) Declares Quarterly Dividend of $0.02

Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Shareholders of record on Thursday, February 9th will be given a dividend of 0.0242 per share on Friday, February 24th. This represents a $0.10 annualized dividend and a yield of 1.64%. This is an increase from Sirius XM’s previous quarterly dividend of $0.02.

Sirius XM has raised its dividend payment by an average of 90.0% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Sirius XM has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sirius XM to earn $0.33 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 30.3%.

Sirius XM Stock Up 2.1 %

Shares of NASDAQ:SIRI traded up $0.12 during trading on Wednesday, hitting $5.91. 16,112,561 shares of the company were exchanged, compared to its average volume of 12,270,892. The business’s 50 day moving average is $6.06 and its 200-day moving average is $6.18. The company has a market capitalization of $22.99 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.95. Sirius XM has a 1-year low of $5.69 and a 1-year high of $6.88.

Sirius XM (NASDAQ:SIRIGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.27 billion. Sirius XM had a negative return on equity of 35.97% and a net margin of 12.95%. As a group, sell-side analysts anticipate that Sirius XM will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

SIRI has been the subject of several research analyst reports. Pivotal Research lowered their price target on shares of Sirius XM from $7.10 to $6.75 in a report on Wednesday, November 2nd. Morgan Stanley decreased their price objective on Sirius XM from $6.50 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Sirius XM from $8.00 to $7.50 in a report on Wednesday, November 2nd. StockNews.com assumed coverage on Sirius XM in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Credit Suisse Group decreased their price objective on Sirius XM from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Thursday, January 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.63.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 44,670 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $6.46, for a total transaction of $288,568.20. Following the completion of the sale, the director now directly owns 93,969 shares in the company, valued at approximately $607,039.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Sirius XM

Large investors have recently bought and sold shares of the business. Glenmede Trust Co. NA boosted its position in shares of Sirius XM by 97.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 33,936 shares of the company’s stock worth $193,000 after purchasing an additional 16,733 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Sirius XM in the 1st quarter valued at about $160,000. Advisory Services Network LLC lifted its position in Sirius XM by 81.1% in the 1st quarter. Advisory Services Network LLC now owns 23,690 shares of the company’s stock valued at $157,000 after acquiring an additional 10,610 shares in the last quarter. Worth Venture Partners LLC bought a new position in Sirius XM in the 1st quarter valued at about $140,000. Finally, Advisors Capital Management LLC bought a new position in Sirius XM in the 3rd quarter valued at about $132,000. 10.10% of the stock is currently owned by institutional investors and hedge funds.

About Sirius XM

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Dividend History for Sirius XM (NASDAQ:SIRI)

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