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 grew its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,140,665 shares of the company's stock after acquiring an additional 437,077 shares during the period. Bank of New York Mellon Corp owned about 0.22% of Warner Music Group worth $35,361,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WMG. Assetmark Inc. lifted its stake in shares of Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company's stock worth $39,000 after buying an additional 1,222 shares during the last quarter. GAMMA Investing LLC lifted its position in Warner Music Group by 379.5% during the fourth quarter. GAMMA Investing LLC now owns 1,774 shares of the company's stock worth $55,000 after acquiring an additional 1,404 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Warner Music Group by 14.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company's stock worth $115,000 after acquiring an additional 455 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Warner Music Group by 13.1% during 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 during the period. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Warner Music Group during the third quarter worth approximately $247,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

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Warner Music Group Price Performance

NASDAQ:WMG traded down $0.63 on Tuesday, hitting $33.44. The company had a trading volume of 1,817,753 shares, compared to its average volume of 1,848,412. Warner Music Group Corp. has a 52 week low of $27.06 and a 52 week high of $36.64. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 5.67. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 1.03 and a beta of 1.33. The firm has a 50 day moving average of $32.37 and a two-hundred day moving average of $31.63.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The firm also recently disclosed 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 of this dividend was Monday, February 24th. This represents a $0.72 dividend on an annualized basis and a yield of 2.15%. Warner Music Group's dividend payout ratio (DPR) is presently 73.47%.

Analysts Set New Price Targets

WMG has been the topic of a number of research reports. Morgan Stanley decreased their price objective on Warner Music Group from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Guggenheim restated a "buy" rating and issued a $40.00 price target on shares of Warner Music Group in a research note on Friday, February 7th. Evercore ISI dropped 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. 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, Loop Capital lowered their target price on shares of Warner Music Group from $38.00 to $35.00 and set a "hold" rating on the stock in a report on Monday, November 25th. 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.81.

Insider Buying and Selling

In related news, Director Lincoln E. Benet sold 35,000 shares of Warner Music Group stock in a transaction that occurred on 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 transaction, the director now directly owns 242,360 shares of the company's stock, valued at $7,503,465.60. The trade was a 12.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Valentin Blavatnik sold 28,230 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 68,264 shares in the company, 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 64,333 shares of company stock worth $2,124,602 in the last ninety days. Company 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.