Keystone Financial Services Purchases 432 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Keystone Financial Services raised its position in Warner Music Group Corp. (NASDAQ:WMG) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,336 shares of the company’s stock after purchasing an additional 432 shares during the period. Keystone Financial Services’ holdings in Warner Music Group were worth $320,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mawer Investment Management Ltd. boosted its stake in Warner Music Group by 2,699.4% during the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock valued at $257,207,000 after buying an additional 7,923,926 shares during the period. D1 Capital Partners L.P. raised its holdings in shares of Warner Music Group by 91.5% in the 3rd quarter. D1 Capital Partners L.P. now owns 5,264,498 shares of the company’s stock valued at $164,779,000 after acquiring an additional 2,514,715 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Warner Music Group by 37.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company’s stock valued at $274,016,000 after acquiring an additional 2,370,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Warner Music Group by 2,198.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 507,533 shares of the company’s stock worth $15,886,000 after purchasing an additional 485,447 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Warner Music Group by 1,041.3% in the third quarter. Raymond James & Associates now owns 363,347 shares of the company’s stock worth $11,373,000 after purchasing an additional 331,511 shares during the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Lincoln E. Benet sold 35,000 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 directly owns 242,360 shares in the company, valued at $7,503,465.60. This trade represents a 12.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 72.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group cut their price target on shares of 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. Morgan Stanley cut their target price on shares of Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Barclays lowered their price target on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and issued a $30.00 price objective on shares of Warner Music Group in a report on Thursday, January 30th. Finally, Loop Capital decreased their price objective 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. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.81.

Warner Music Group Price Performance

WMG stock opened at $36.30 on Monday. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 0.94 and a beta of 1.35. The firm’s 50-day moving average price is $31.45 and its two-hundred day moving average price is $30.94. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 5.67. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $36.81.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results 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%. As a group, equities analysts predict that Warner Music Group Corp. will post 1.3 earnings per share for the current year.

Warner Music Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.98%. Warner Music Group’s payout ratio is 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.