E. Ohman J or Asset Management AB Grows Position in Warner Music Group Corp. $WMG

Key Points

• E. Ohman J or Asset Management AB increased its stake in Warner Music Group by 3.3%, owning approximately 1,048,077 shares worth about $28.55 million as of the latest quarter.
• Warner Music Group recently declared a quarterly dividend of $0.19 per share, up from the previous $0.18, resulting in an annualized yield of 2.3%.
• Despite a year-over-year revenue increase of 8.7%, Warner Music reported a loss of ($0.03) EPS in its recent quarterly earnings, significantly missing expectations.

E. Ohman J or Asset Management AB grew its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,048,077 shares of the company's stock after acquiring an additional 33,652 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.20% of Warner Music Group worth $28,550,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Independent Franchise Partners LLP lifted its position in Warner Music Group by 127.0% during the first quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company's stock valued at $419,427,000 after purchasing an additional 7,483,839 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Warner Music Group by 36.6% during the 1st quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company's stock worth $479,552,000 after acquiring an additional 4,097,688 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Warner Music Group by 43.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company's stock worth $245,531,000 after acquiring an additional 2,400,500 shares in the last quarter. Vanguard Group Inc. increased its stake in Warner Music Group by 10.1% in the first quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company's stock valued at $450,803,000 after acquiring an additional 1,316,979 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Warner Music Group by 2,198.4% during the first quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company's stock valued at $31,338,000 after purchasing an additional 956,121 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Stock Down 1.8%

Shares of NASDAQ WMG opened at $33.62 on Monday. The firm's fifty day moving average is $31.71 and its 200 day moving average is $30.04. Warner Music Group Corp. has a 52 week low of $25.56 and a 52 week high of $36.64. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.37. The company has a market cap of $17.53 billion, a price-to-earnings ratio of 58.98, a PEG ratio of 1.66 and a beta of 1.31.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.30). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.59 billion. Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.Warner Music Group's revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts expect that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change from Warner Music Group's previous quarterly dividend of $0.18. Warner Music Group's dividend payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

WMG has been the subject of a number of research reports. Bank of America upgraded Warner Music Group from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $28.00 to $33.00 in a report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Sanford C. Bernstein increased their price target on shares of Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Rothschild & Co Redburn upgraded shares of Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price objective for the company in a report on Tuesday, July 15th. Finally, Cowen reaffirmed a "buy" rating on shares of Warner Music Group in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Warner Music Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.65.

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.

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