460,000 Shares in Warner Music Group Corp. $WMG Bought by ING Groep NV

ING Groep NV purchased a new position in Warner Music Group Corp. (NASDAQ:WMG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 460,000 shares of the company’s stock, valued at approximately $14,108,000.

A number of other institutional investors also recently bought and sold shares of WMG. Caitong International Asset Management Co. Ltd lifted its position in Warner Music Group by 774.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after buying an additional 1,069 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after purchasing an additional 1,236 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Warner Music Group by 355.7% during the fourth quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock worth $47,000 after purchasing an additional 1,195 shares during the last quarter. US Bancorp DE lifted its position in shares of Warner Music Group by 23.5% during the third quarter. US Bancorp DE now owns 1,729 shares of the company’s stock worth $59,000 after purchasing an additional 329 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Warner Music Group by 40.8% during the fourth quarter. CWM LLC now owns 3,486 shares of the company’s stock worth $107,000 after purchasing an additional 1,011 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Stock Performance

WMG stock opened at $29.93 on Monday. The company has a debt-to-equity ratio of 5.62, a current ratio of 0.73 and a quick ratio of 0.71. The business has a 50-day moving average price of $29.97 and a 200 day moving average price of $29.21. The company has a market capitalization of $15.61 billion, a P/E ratio of 35.21, a PEG ratio of 0.44 and a beta of 1.27. Warner Music Group Corp. has a 1-year low of $23.34 and a 1-year high of $35.42.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.61 billion. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, equities research analysts forecast that Warner Music Group Corp. will post 1.52 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, May 26th. Warner Music Group’s payout ratio is presently 89.41%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WMG. UBS Group lifted their target price on Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Morgan Stanley set a $39.00 target price on Warner Music Group in a research report on Friday, May 8th. Guggenheim lifted their target price on Warner Music Group from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Scotiabank upgraded Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Warner Music Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.38.

Warner Music Group Company Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.