Corient Private Wealth LLC Takes $218,000 Position in Warner Music Group Corp. (NASDAQ:WMG)

Corient Private Wealth LLC bought a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,022 shares of the company’s stock, valued at approximately $218,000.

Several other large investors have also recently bought and sold shares of WMG. Patriot Financial Group Insurance Agency LLC raised its holdings in Warner Music Group by 3.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company’s stock worth $380,000 after purchasing an additional 408 shares in the last quarter. Keystone Financial Services raised its stake in Warner Music Group by 4.4% during the 4th quarter. Keystone Financial Services now owns 10,336 shares of the company’s stock worth $320,000 after acquiring an additional 432 shares in the last quarter. Rosenberg Matthew Hamilton lifted 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 valued at $115,000 after acquiring an additional 455 shares during the last quarter. Fifth Third Bancorp boosted its stake in Warner Music Group by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock valued at $123,000 after acquiring an additional 458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Warner Music Group by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 77,058 shares of the company’s stock worth $2,389,000 after purchasing an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insiders Place Their Bets

In other Warner Music Group news, Director Valentin Blavatnik sold 28,230 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the sale, the director now directly owns 68,264 shares in the company, valued at approximately $2,419,958.80. The trade was a 29.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Matusch sold 1,103 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $36.49, for a total value of $40,248.47. Following the completion of the transaction, the executive vice president now owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 72.21% of the company’s stock.

Warner Music Group Trading Down 0.1 %

Shares of Warner Music Group stock opened at $31.32 on Wednesday. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33. Warner Music Group Corp. has a 52-week low of $27.06 and a 52-week high of $36.64. The company’s 50-day simple moving average is $33.09 and its 200-day simple moving average is $32.08. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67.

Warner Music Group (NASDAQ:WMG) last released its earnings results on Thursday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. As a group, equities research analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group’s payout ratio is 73.47%.

Wall Street Analyst Weigh In

WMG has been the topic of a number of research analyst reports. Evercore ISI cut their target price on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Citigroup raised Warner Music Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $42.00 in a research report on Friday, February 14th. UBS Group decreased their price objective on Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 10th. Macquarie restated a “neutral” rating and set a $30.00 target price on shares of Warner Music Group in a research report on Thursday, January 30th. Finally, Morgan Stanley reduced their price target on shares of Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.76.

Warner Music Group Company Profile

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.