Bank of Montreal Can Has $6.42 Million Stake in Warner Music Group Corp. $WMG

Bank of Montreal Can reduced its position in Warner Music Group Corp. (NASDAQ:WMG) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,548 shares of the company’s stock after selling 9,890 shares during the period. Bank of Montreal Can’s holdings in Warner Music Group were worth $6,416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Warner Music Group by 2.9% in the first quarter. Principal Financial Group Inc. now owns 326,449 shares of the company’s stock worth $10,234,000 after purchasing an additional 9,103 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Warner Music Group during the first quarter valued at approximately $1,157,000. Vanguard Group Inc. grew its holdings in Warner Music Group by 10.1% during the first quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company’s stock worth $450,803,000 after buying an additional 1,316,979 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Warner Music Group during the first quarter worth $1,746,000. Finally, Charles Schwab Investment Management Inc. raised its position in Warner Music Group by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 997,215 shares of the company’s stock valued at $31,263,000 after buying an additional 43,666 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

NASDAQ WMG opened at $29.80 on Tuesday. The company has a market capitalization of $15.53 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.64 and a current ratio of 0.66. Warner Music Group Corp. has a 52-week low of $25.56 and a 52-week high of $36.64. The company has a 50-day simple moving average of $32.74 and a 200 day simple moving average of $30.44.

Warner Music Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 19th. This represents a $0.76 annualized dividend and a dividend yield of 2.6%. Warner Music Group’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a report on Thursday, October 30th. Tigress Financial boosted their price target on shares of Warner Music Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. UBS Group set a $45.00 price objective on shares of Warner Music Group in a research report on Wednesday, September 10th. The Goldman Sachs Group lifted their target price on shares of Warner Music Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Finally, Rothschild & Co Redburn upgraded Warner Music Group from a “sell” rating to a “neutral” rating and set a $30.00 target price on the stock in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.76.

About Warner Music Group

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.