Fifth Third Bancorp Has $2.13 Million Stock Holdings in Sirius XM Holdings Inc. $SIRI

Fifth Third Bancorp raised its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 34.0% in the second quarter, Holdings Channel reports. The firm owned 72,171 shares of the company’s stock after acquiring an additional 18,294 shares during the quarter. Fifth Third Bancorp’s holdings in Sirius XM were worth $2,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. boosted its holdings in shares of Sirius XM by 158.5% in the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after buying an additional 794 shares during the last quarter. Root Financial Partners LLC increased its holdings in Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares during the last quarter. Rossby Financial LCC increased its holdings in Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Western Wealth Management LLC bought a new stake in Sirius XM during the first quarter worth $33,000. Finally, Altshuler Shaham Ltd raised its position in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after acquiring an additional 417 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares of the company’s stock, valued at $601,462.29. The trade was a 50.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares of the company’s stock, valued at approximately $550,069.38. The trade was a 47.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.27% of the company’s stock.

Sirius XM Price Performance

NASDAQ:SIRI opened at $28.46 on Friday. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46. The firm’s 50-day simple moving average is $29.47 and its 200 day simple moving average is $25.94. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.62 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is 43.20%.

Wall Street Analyst Weigh In

SIRI has been the subject of a number of recent analyst reports. Barrington Research increased their price target on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Evercore set a $28.00 target price on shares of Sirius XM in a report on Friday, May 1st. Wells Fargo & Company raised their target price on shares of Sirius XM from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Finally, Morgan Stanley boosted their price target on Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $30.92.

Sirius XM 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.