E. Ohman J or Asset Management AB Sells 126,834 Shares of Warner Music Group Corp. (NASDAQ:WMG)

E. Ohman J or Asset Management AB reduced its holdings in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 963,404 shares of the company's stock after selling 126,834 shares during the period. E. Ohman J or Asset Management AB owned approximately 0.19% of Warner Music Group worth $29,866,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its stake 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 valued at $380,000 after acquiring an additional 408 shares during the period. Capital City Trust Co. FL increased its position in shares of Warner Music Group by 4.3% during the third quarter. Capital City Trust Co. FL now owns 10,422 shares of the company's stock valued at $326,000 after purchasing an additional 431 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of 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 purchasing an additional 455 shares in the last quarter. Fifth Third Bancorp lifted its position in Warner Music Group by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company's stock worth $123,000 after purchasing an additional 458 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Warner Music Group by 3.2% during the third quarter. New York State Teachers Retirement System now owns 20,743 shares of the company's stock worth $649,000 after buying an additional 643 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WMG. Citigroup increased their price objective on shares of Warner Music Group from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, November 29th. Loop Capital dropped their price target on shares of 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. UBS Group decreased their price objective 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. Barclays dropped their target price on Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Finally, Morgan Stanley decreased their price target on Warner Music Group from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $35.31.

Insiders Place Their Bets

In related news, Director Lincoln E. Benet sold 35,000 shares of Warner Music Group stock in a transaction on Friday, December 20th. The stock was sold at an average price of $30.96, for a total transaction of $1,083,600.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 72.21% of the company's stock.

Warner Music Group Price Performance

Shares of WMG stock traded up $0.97 during trading hours on Friday, reaching $32.72. 1,930,982 shares of the company were exchanged, compared to its average volume of 1,981,042. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.65. The stock's fifty day moving average is $31.20 and its two-hundred day moving average is $30.77. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 0.94 and a beta of 1.35.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its quarterly earnings data 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 69.29% and a net margin of 6.77%. Sell-side analysts forecast that Warner Music Group Corp. will post 1.31 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a yield of 2.20%. Warner Music Group's payout ratio is 86.75%.

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.