Cullen Frost Bankers Inc. Has $6.94 Million Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Cullen Frost Bankers Inc. boosted its stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,945 shares of the company's stock after buying an additional 23,726 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Warner Music Group were worth $6,941,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Music Group by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 820,944 shares of the company's stock valued at $29,382,000 after purchasing an additional 19,104 shares during the period. National Bank of Canada FI increased its position in shares of Warner Music Group by 7,814.8% during the fourth quarter. National Bank of Canada FI now owns 19,233 shares of the company's stock worth $689,000 after acquiring an additional 18,990 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Warner Music Group by 60.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 73,692 shares of the company's stock valued at $2,637,000 after acquiring an additional 27,811 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in Warner Music Group in the fourth quarter valued at $46,000. Finally, VCI Wealth Management LLC acquired a new position in Warner Music Group during the 4th quarter worth $821,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Stock Down 8.6 %

Shares of NASDAQ WMG traded down $3.08 on Thursday, hitting $32.57. The company had a trading volume of 4,601,336 shares, compared to its average volume of 1,545,512. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. Warner Music Group Corp. has a 12-month low of $23.62 and a 12-month high of $38.05. The firm has a market capitalization of $16.87 billion, a P/E ratio of 37.01, a PEG ratio of 2.23 and a beta of 1.43. The business has a 50 day moving average of $33.63 and a two-hundred day moving average of $34.12.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. As a group, equities research analysts forecast that Warner Music Group Corp. will post 0.99 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, February 21st. Warner Music Group's dividend payout ratio (DPR) is presently 77.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WMG shares. Loop Capital upped their price target on Warner Music Group from $36.00 to $38.00 and gave the company a "hold" rating in a report on Thursday, April 18th. Redburn Atlantic raised shares of Warner Music Group from a "sell" rating to a "neutral" rating and upped their price target for the stock from $17.00 to $21.00 in a research note on Monday, February 5th. Guggenheim dropped their price objective on Warner Music Group from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Finally, Morgan Stanley assumed coverage on shares of Warner Music Group in a research report on Monday. They issued an "overweight" rating and a $43.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.18.

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.