Summit Investment Advisors Inc. Has $879,000 Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Summit Investment Advisors Inc. trimmed its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,363 shares of the company’s stock after selling 689 shares during the period. Summit Investment Advisors Inc.’s holdings in Warner Music Group were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Warner Music Group during the 4th quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new position in Warner Music Group during the fourth quarter valued at about $43,000. GAMMA Investing LLC lifted its position in shares of Warner Music Group by 379.5% in the fourth quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $55,000 after buying an additional 1,404 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Warner Music Group by 14.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock worth $115,000 after buying an additional 455 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Warner Music Group by 13.1% during the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Transactions at Warner Music Group

In other Warner Music Group news, Director Valentin Blavatnik sold 28,230 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.45, for a total value of $1,000,753.50. Following the transaction, the director now owns 68,264 shares of the company’s stock, valued at approximately $2,419,958.80. This represents a 29.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Matusch sold 1,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.43, for a total value of $31,430.00. Following the transaction, the executive vice president now owns 87,649 shares of the company’s stock, valued at $2,754,808.07. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,333 shares of company stock valued at $1,072,432 in the last three months. 72.21% of the stock is owned by corporate insiders.

Warner Music Group Stock Performance

NASDAQ:WMG opened at $29.12 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67. The firm has a 50-day moving average price of $32.44 and a 200 day moving average price of $31.91. The firm has a market capitalization of $15.15 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $36.64.

Warner Music Group (NASDAQ:WMG) last posted its earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. Research analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a $0.18 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. Warner Music Group’s dividend payout ratio (DPR) is presently 73.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WMG shares. Citigroup raised Warner Music Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $42.00 in a research report on Friday, February 14th. UBS Group lowered their target price on shares of Warner Music Group from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Guggenheim reissued a “buy” rating and set a $40.00 target price on shares of Warner Music Group in a research report on Friday, February 7th. FBN Securities assumed coverage on Warner Music Group in a research report on Friday, March 28th. They issued a “sector perform” rating and a $35.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.76.

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.