Sirius XM Holdings Inc. Declares Quarterly Dividend of $0.27 (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced 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) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 10th.

Sirius XM has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 7 years. Sirius XM has a dividend payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ:SIRI 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 firm has a 50 day simple moving average of $28.83 and a 200-day simple moving average of $24.89. The firm has a market cap of $10.04 billion, a PE ratio of 12.59, a P/E/G 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, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $0.59 EPS. Sirius XM’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts expect that Sirius XM will post 3.1 EPS for the current year.

Insider Transactions at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s 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 sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Sirius XM by 262.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock worth $145,426,000 after acquiring an additional 4,560,821 shares during the period. AQR Capital Management LLC raised its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after purchasing an additional 3,233,922 shares in the last quarter. State Street Corp increased its holdings in shares of Sirius XM by 0.7% in the fourth quarter. State Street Corp now owns 3,487,415 shares of the company’s stock valued at $69,731,000 after buying an additional 25,906 shares in the last quarter. Check Capital Management Inc. CA lifted its holdings in shares of Sirius XM by 2.0% during the first quarter. Check Capital Management Inc. CA now owns 2,942,595 shares of the company’s stock valued at $67,915,000 after purchasing an additional 59,095 shares during the last quarter. Finally, Norges Bank purchased a new stake in Sirius XM during the fourth quarter valued at about $57,124,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

About Sirius XM

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.