Rockefeller Capital Management L.P. Purchases Shares of 16,502 Warner Music Group Corp. (NASDAQ:WMG)

Rockefeller Capital Management L.P. acquired a new stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,502 shares of the company's stock, valued at approximately $512,000.

Several other institutional investors and hedge funds have also made changes to their positions in WMG. JPMorgan Chase & Co. raised its stake in 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 last quarter. Assetmark Inc. boosted its holdings in shares of Warner Music Group by 7,659.8% in the 4th quarter. Assetmark Inc. now owns 95,833 shares of the company's stock valued at $2,971,000 after acquiring an additional 94,598 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Warner Music Group by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock worth $29,560,000 after purchasing an additional 48,772 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Warner Music Group by 84.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 31,616 shares of the company's stock valued at $980,000 after purchasing an additional 14,507 shares during the last quarter. Finally, Hahn Capital Management LLC lifted its holdings in shares of Warner Music Group by 31.3% in the 4th quarter. Hahn Capital Management LLC now owns 255,101 shares of the company's stock valued at $7,908,000 after buying an additional 60,882 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Stock Up 0.1 %

NASDAQ:WMG traded up $0.03 during mid-day trading on Tuesday, hitting $29.66. The company had a trading volume of 107,063 shares, compared to its average volume of 1,949,064. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 5.67. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $36.64. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.03 and a beta of 1.32. The business has a fifty day simple moving average of $31.54 and a 200-day simple moving average of $31.81.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. Equities analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, February 24th. Warner Music Group's dividend payout ratio is presently 73.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Guggenheim reaffirmed a "buy" rating and set a $40.00 target price on shares of Warner Music Group in a report on Friday, February 7th. Evercore ISI reduced their target price on Warner Music Group from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Thursday, January 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $32.00 target price (down previously from $37.00) on shares of Warner Music Group in a research note on Monday, April 21st. UBS Group reduced their price target on shares of Warner Music Group from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, Citigroup upgraded Warner Music Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $34.00 to $42.00 in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Warner Music Group presently has a consensus rating of "Hold" and an average target price of $35.47.

Insider Buying and Selling

In related news, EVP Timothy Matusch sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total transaction of $31,430.00. Following the transaction, the executive vice president now owns 87,649 shares of the company's stock, valued at approximately $2,754,808.07. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Valentin Blavatnik sold 28,230 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.45, for a total value of $1,000,753.50. Following the completion of the sale, the director now directly owns 68,264 shares of the company's stock, valued at $2,419,958.80. This represents a 29.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,333 shares of company stock worth $1,072,432 in the last three months. 72.21% of the stock is currently owned by insiders.

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.