Sirius XM Holdings Inc. (NASDAQ:SIRI) to Issue $0.27 Quarterly Dividend

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, August 10th will be paid a dividend of 0.27 per share on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 10th.

Sirius XM has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Sirius XM has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sirius XM to earn $3.36 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 32.1%.

Sirius XM Trading Down 1.5%

Shares of Sirius XM stock opened at $29.83 on Thursday. Sirius XM has a 1 year low of $19.76 and a 1 year high of $31.42. The company has a 50 day simple moving average of $28.83 and a two-hundred day simple moving average of $24.89. The firm has a market cap of $10.04 billion, a PE ratio of 12.59, a PEG ratio of 0.65 and a beta of 0.95. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts expect that Sirius XM will post 3.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Brighton Jones LLC purchased a new stake in Sirius XM during the 4th quarter valued at $622,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Sirius XM by 11.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,313 shares of the company’s stock worth $20,861,000 after buying an additional 92,111 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Sirius XM by 5.2% in the first quarter. Focus Partners Wealth now owns 16,273 shares of the company’s stock worth $367,000 after acquiring an additional 800 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 493 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Sirius XM during the second quarter valued at $208,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.