E. Ohman J or Asset Management AB Has $28.55 Million Stake 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 boosted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,048,077 shares of the company's stock after purchasing 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 and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in Warner Music Group by 36.6% during the 1st quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company's stock valued at $479,552,000 after purchasing an additional 4,097,688 shares during the period. Vanguard Group Inc. raised its stake in Warner Music Group by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company's stock valued at $450,803,000 after purchasing an additional 1,316,979 shares during the period. Independent Franchise Partners LLP increased its stake in Warner Music Group by 127.0% in the 1st quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company's stock worth $419,427,000 after acquiring an additional 7,483,839 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Warner Music Group by 43.5% in the 4th 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 during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Warner Music Group by 2,198.4% in the 1st quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company's stock worth $31,338,000 after acquiring an additional 956,121 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Warner Music Group Stock Performance

NASDAQ WMG traded down $0.26 during trading hours on Friday, reaching $33.56. The company's stock had a trading volume of 312,200 shares, compared to its average volume of 1,885,868. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.37. The business has a 50-day simple moving average of $32.01 and a 200 day simple moving average of $30.08. Warner Music Group Corp. has a 52 week low of $25.56 and a 52 week high of $36.64. The stock has a market cap of $17.49 billion, a PE ratio of 58.87, a PEG ratio of 1.64 and a beta of 1.31.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its 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). Warner Music Group had a return on equity of 39.95% and a net margin of 4.59%.The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $0.27 EPS. The business's revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal 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 $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.3%. This is a positive change from Warner Music Group's previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, August 20th. Warner Music Group's dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WMG shares. Cowen reaffirmed a "buy" rating on shares of Warner Music Group in a research note on Thursday, August 7th. Sanford C. Bernstein lifted their target price on Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group lifted their target price on Warner Music Group from $28.00 to $31.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. UBS Group set a $45.00 target price on Warner Music Group in a report on Wednesday, September 10th. Finally, Barclays boosted their price objective on Warner Music Group from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. 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 data from MarketBeat, Warner Music Group has a consensus rating of "Moderate Buy" and an average target price of $34.65.

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.