Bank of New York Mellon Corp Has $35.36 Million Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Bank of New York Mellon Corp boosted its position in Warner Music Group Corp. (NASDAQ:WMG) by 62.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,140,665 shares of the company’s stock after buying an additional 437,077 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.22% of Warner Music Group worth $35,361,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WMG. VisionPoint Advisory Group LLC boosted its stake in shares of Warner Music Group by 1.5% during the 4th quarter. VisionPoint Advisory Group LLC now owns 67,236 shares of the company’s stock worth $2,104,000 after acquiring an additional 1,009 shares during the period. Keystone Financial Services boosted its stake in shares of 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 during the period. Rhumbline Advisers boosted its stake in shares of Warner Music Group by 2.5% during the 4th quarter. Rhumbline Advisers now owns 246,211 shares of the company’s stock worth $7,633,000 after acquiring an additional 6,023 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 worth $2,389,000 after acquiring an additional 792 shares during the period. Finally, Choreo LLC bought a new position in shares of Warner Music Group during the 4th quarter worth approximately $463,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy Matusch sold 1,103 shares of Warner Music Group stock in a transaction dated Friday, February 14th. The stock was 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 in the company, valued at approximately $3,234,802.01. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lincoln E. Benet sold 35,000 shares of Warner Music Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $30.96, for a total value of $1,083,600.00. Following the completion of the transaction, the director now owns 242,360 shares of the company’s stock, valued at approximately $7,503,465.60. This represents a 12.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,333 shares of company stock valued at $2,124,602. 72.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Macquarie restated a “neutral” rating and issued a $30.00 price target on shares of Warner Music Group in a research note on Thursday, January 30th. UBS Group reduced their price target on Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays reduced their price target on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Loop Capital cut their target price on Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, November 25th. Finally, Evercore ISI cut their target price on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.81.

Warner Music Group Stock Performance

Warner Music Group stock opened at $34.39 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67. The company has a market capitalization of $17.90 billion, a P/E ratio of 35.09, a PEG ratio of 1.03 and a beta of 1.33. The stock’s 50 day moving average is $32.31 and its 200 day moving average is $31.56. Warner Music Group Corp. has a twelve month low of $27.06 and a twelve month high of $36.64.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating 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%. On average, equities research analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $0.18 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%. Warner Music Group’s dividend payout ratio is currently 73.47%.

Warner Music Group 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.