Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,332 shares of the company’s stock after selling 19,650 shares during the period. Cullen Frost Bankers Inc.’s holdings in Warner Music Group were worth $7,326,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Mawer Investment Management Ltd. increased its holdings in shares of Warner Music Group by 2,699.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock valued at $257,207,000 after purchasing an additional 7,923,926 shares in the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Warner Music Group by 91.5% during the 3rd quarter. D1 Capital Partners L.P. now owns 5,264,498 shares of the company’s stock worth $164,779,000 after acquiring an additional 2,514,715 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Warner Music Group by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company’s stock worth $274,016,000 after acquiring an additional 2,370,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Warner Music Group by 62.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,140,665 shares of the company’s stock worth $35,361,000 after purchasing an additional 437,077 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling at Warner Music Group

In related news, Director Lincoln E. Benet sold 35,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 242,360 shares of the company’s stock, valued at approximately $7,503,465.60. This represents a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy Matusch sold 1,103 shares of Warner Music Group stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $36.49, for a total value of $40,248.47. Following the sale, the executive vice president now owns 88,649 shares in the company, valued at $3,234,802.01. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,333 shares of company stock valued at $2,124,602 over the last 90 days. 72.21% of the stock is owned by corporate insiders.

Warner Music Group Price Performance

Warner Music Group stock opened at $33.82 on Friday. The firm has a fifty day moving average of $32.25 and a 200-day moving average of $31.53. Warner Music Group Corp. has a 52-week low of $27.06 and a 52-week high of $36.64. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67. The firm has a market capitalization of $17.60 billion, a P/E ratio of 34.51, a PEG ratio of 1.03 and a beta of 1.33.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate 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, analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group’s dividend payout ratio is presently 73.47%.

Wall Street Analyst Weigh In

WMG has been the subject of a number of research analyst reports. Evercore ISI dropped their price target on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. JPMorgan Chase & Co. reduced their price target on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays cut their price objective on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Morgan Stanley cut their price target on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Citigroup raised shares of Warner Music Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $42.00 in a research note on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.81.

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.