Capital City Trust Co. FL Purchases 431 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Capital City Trust Co. FL increased its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,422 shares of the company’s stock after purchasing an additional 431 shares during the quarter. Capital City Trust Co. FL’s holdings in Warner Music Group were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Warner Music Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,861,877 shares of the company’s stock valued at $391,679,000 after purchasing an additional 192,215 shares during the period. Acadian Asset Management LLC increased its position in shares of Warner Music Group by 289.8% during the first quarter. Acadian Asset Management LLC now owns 92,930 shares of the company’s stock valued at $3,066,000 after buying an additional 69,089 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Warner Music Group by 6.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,141 shares of the company’s stock worth $434,000 after buying an additional 773 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Warner Music Group in the first quarter worth about $523,000. Finally, Capital Group Investment Management PTE. LTD. boosted its position in Warner Music Group by 8.1% during the 1st quarter. Capital Group Investment Management PTE. LTD. now owns 23,681 shares of the company’s stock valued at $782,000 after acquiring an additional 1,772 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Shares of WMG opened at $32.92 on Monday. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05. The business’s fifty day simple moving average is $31.36 and its two-hundred day simple moving average is $30.69. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.06 and a beta of 1.37.

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 19th. Warner Music Group’s dividend payout ratio is currently 69.23%.

Analyst Ratings Changes

WMG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Bank of America reissued an “underperform” rating and set a $30.00 price objective (down previously from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Evercore ISI reduced their target price on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Macquarie lowered their price target on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Wells Fargo & Company cut their price objective on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.17.

Insider Activity

In other news, CEO Max Lousada sold 135,324 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $28.17, for a total transaction of $3,812,077.08. Following the completion of the sale, the chief executive officer now owns 2,725,964 shares of the company’s stock, valued at $76,790,405.88. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 628,205 shares of company stock valued at $17,628,757 in the last 90 days. 73.35% of the stock is currently owned by insiders.

Warner Music Group Company 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.