Warner Music Group Corp. (NASDAQ:WMG) Stock Holdings Increased by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 7,659.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,833 shares of the company’s stock after acquiring an additional 94,598 shares during the period. Assetmark Inc.’s holdings in Warner Music Group were worth $2,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Warner Music Group by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company’s stock worth $274,016,000 after buying an additional 2,370,973 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Warner Music Group by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,628,263 shares of the company’s stock worth $82,284,000 after acquiring an additional 49,166 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Warner Music Group by 2,699.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock worth $257,207,000 after acquiring an additional 7,923,926 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Warner Music Group by 355.3% in the 3rd quarter. Quantbot Technologies LP now owns 44,337 shares of the company’s stock worth $1,388,000 after acquiring an additional 34,599 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Warner Music Group by 84.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 31,616 shares of the company’s stock worth $980,000 after acquiring an additional 14,507 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WMG. UBS Group decreased their target price 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. Macquarie restated a “neutral” rating and issued a $30.00 target price on shares of Warner Music Group in a report on Thursday, January 30th. Loop Capital lowered their price target on Warner Music Group from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, November 25th. JPMorgan Chase & Co. lowered their price target on Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Citigroup upgraded Warner Music Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Warner Music Group currently has an average rating of “Moderate Buy” and a consensus price target of $35.81.

Warner Music Group Trading Up 1.7 %

WMG stock opened at $34.39 on Monday. The business has a fifty day moving average price of $32.31 and a 200 day moving average price of $31.60. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $36.64. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 1.03 and a beta of 1.33. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. Analysts expect that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given 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 2.09%. Warner Music Group’s dividend payout ratio is currently 73.47%.

Insider Transactions at Warner Music Group

In other Warner Music Group news, 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 sale, the director now owns 242,360 shares of the company’s stock, valued at $7,503,465.60. This trade represents a 12.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 directly owns 68,264 shares in the company, valued at $2,419,958.80. This represents a 29.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,333 shares of company stock worth $2,124,602 in the last three months. Insiders own 72.21% of the company’s stock.

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.