Warner Music Group Corp. (NASDAQ:WMG) Shares Purchased by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. boosted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,776 shares of the company’s stock after buying an additional 5,083 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Warner Music Group were worth $1,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WMG. ORG Partners LLC raised its stake in shares of Warner Music Group by 5,790.5% in the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock valued at $37,000 after acquiring an additional 1,216 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Warner Music Group in the 1st quarter valued at about $45,000. SRS Capital Advisors Inc. acquired a new position in shares of Warner Music Group during the fourth quarter worth about $46,000. Fifth Third Bancorp increased its stake in shares of Warner Music Group by 94.8% during the first quarter. Fifth Third Bancorp now owns 2,088 shares of the company’s stock worth $69,000 after buying an additional 1,016 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Warner Music Group in the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Shares of WMG traded up $0.15 during mid-day trading on Monday, hitting $29.25. 1,319,401 shares of the company’s stock were exchanged, compared to its average volume of 1,931,229. The firm has a market capitalization of $15.15 billion, a P/E ratio of 29.10, a P/E/G ratio of 1.77 and a beta of 1.38. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $38.05. The business’s 50 day moving average is $29.90 and its two-hundred day moving average is $31.99. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26.

Warner Music Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 27th will be paid a $0.18 dividend. This is an increase from Warner Music Group’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Tuesday, August 27th. Warner Music Group’s dividend payout ratio (DPR) is 68.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WMG shares. Evercore ISI dropped their price objective on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut their price target on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wolfe Research assumed coverage on Warner Music Group in a research report on Friday, July 12th. They set an “outperform” rating and a $37.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Morgan Stanley initiated coverage on Warner Music Group in a research note on Monday, May 6th. They set an “overweight” rating and a $43.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.19.

Warner Music Group Company 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.