11,306 Shares in Warner Music Group Corp. (NASDAQ:WMG) Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. bought a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,306 shares of the company’s stock, valued at approximately $354,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in shares of Warner Music Group by 74.5% in the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after purchasing an additional 407 shares during the period. Concord Wealth Partners purchased a new position in Warner Music Group in the 3rd quarter valued at approximately $30,000. ORG Partners LLC grew its stake in shares of Warner Music Group by 5,790.5% in the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after acquiring an additional 1,216 shares in the last quarter. Assetmark Inc. increased its position in shares of Warner Music Group by 9,400.0% during the third quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after acquiring an additional 1,222 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Warner Music Group in the third quarter valued at $73,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

WMG has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Tigress Financial dropped their target price on Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Barclays cut their price objective on shares of Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Evercore ISI decreased their price objective on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Warner Music Group presently has an average rating of “Hold” and an average price target of $35.67.

Insiders Place Their Bets

In other Warner Music Group news, CEO Max Lousada sold 64,047 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.25, for a total value of $1,809,327.75. Following the completion of the transaction, the chief executive officer now directly owns 2,909,422 shares of the company’s stock, valued at approximately $82,191,171.50. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 628,205 shares of company stock valued at $17,628,757. 73.35% of the stock is currently owned by insiders.

Warner Music Group Trading Up 1.3 %

Warner Music Group stock opened at $32.52 on Friday. The company has a 50 day moving average price of $31.97 and a 200 day moving average price of $30.63. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 0.70 and a beta of 1.37. Warner Music Group Corp. has a 52 week low of $27.06 and a 52 week high of $38.05.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.21%. Warner Music Group’s dividend payout ratio (DPR) is currently 86.75%.

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.