2 weeks Ago By Defense World Staff
Wells Fargo & Company MN boosted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG – Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The firm owned 66,843 shares of the company’s stock after acquiring an additional 1,805 shares during the period. Wells Fargo & Company MN’s holdings in Warner Music Group were worth $2,072,000 at the end of the most recent reporting period. A number of other hedge funds have also recently made changes to their positions in the stock.
Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Warner Music Group by 3.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company’s stock valued at $380,000 after buying an additional 408 shares during the period.
Keystone Financial Services lifted its position in shares of Warner Music Group by 4.4% in the fourth quarter. Keystone Financial Services now owns 10,336 shares of the company’s stock worth $320,000 after buying an additional 432 shares in the last quarter.
Rosenberg Matthew Hamilton increased its position in Warner Music Group by 14.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock worth $115,000 after purchasing an additional 455 shares during the last quarter.
Fifth Third Bancorp grew its position in Warner Music Group by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after acquiring an additional 458 shares in the last quarter.
Finally, Allspring Global Investments Holdings LLC increased its position in shares of Warner Music Group by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 77,058 shares of the company’s stock valued at $2,389,000 after purchasing an additional 792 shares during the last quarter.
96.88% of the stock is owned by institutional investors. Insider Activity at Warner Music GroupIn other Warner Music Group news, EVP Timothy Matusch sold 1,103 shares of the stock in a transaction on Friday, February 14th.
The stock was sold at an average price of $36.49, for a total transaction of $40,248.47.
Following the sale, the executive vice president now owns 88,649 shares in the company, valued at approximately $3,234,802.01. This represents a 1.
23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Valentin Blavatnik sold 28,230 shares of Warner Music Group stock in a transaction dated Thursday, February 20th.
The shares were sold at an average price of $35.45, for a total value of $1,000,753.50.
Following the completion of the sale, the director now owns 68,264 shares of the company’s stock, valued at $2,419,958.80. This trade represents a 29.
26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,333 shares of company stock worth $1,072,432 in the last three months.
Insiders own 72.21% of the company’s stock. Warner Music Group Trading Up 2.
1 %Shares of WMG stock opened at $29.83 on Friday. The company has a debt-to-equity ratio of 5.
67, a current ratio of 0.69 and a quick ratio of 0.67.
The firm has a market cap of $15.52 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.
03 and a beta of 1.32. Warner Music Group Corp.
has a 1-year low of $27.06 and a 1-year high of $36.64.
The company has a 50-day moving average of $31.66 and a two-hundred day moving average of $31.81.
Warner Music Group (NASDAQ:WMG – Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.
34 by $0.11. Warner Music Group had a net margin of 8.
07% and a return on equity of 79.01%. On average, analysts predict that Warner Music Group Corp.
will post 1.39 EPS for the current year. Warner Music Group Announces DividendThe business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th.
Shareholders of record on Monday, February 24th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, February 24th.
This represents a $0.72 annualized dividend and a dividend yield of 2.41%.
Warner Music Group’s dividend payout ratio (DPR) is currently 73.47%. Analyst Upgrades and DowngradesSeveral equities research analysts have recently weighed in on the company.
UBS Group reduced their price target on Warner Music Group from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 10th.
Guggenheim reissued a “buy” rating and issued a $40.00 price objective on shares of Warner Music Group in a research report on Friday, February 7th. Macquarie reiterated a “neutral” rating and set a $30.
00 price objective on shares of Warner Music Group in a research note on Thursday, January 30th. Evercore ISI decreased their price objective on shares of Warner Music Group from $36.00 to $35.
00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $32.00 price objective (down previously from $37.
00) on shares of Warner Music Group in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.
com, the stock has a consensus rating of “Hold” and a consensus target price of $35.47.Get Our Latest Stock Analysis on Warner Music GroupWarner Music Group Company Profile (Free Report)Warner Music Group Corp.
operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics, and Warner Music Nashville.
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