Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Time Warner Inc. (NYSE:TWX) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 312,064 shares of the media conglomerate’s stock, valued at approximately $22,793,000. Time Warner makes up 2.1% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings, making the stock its 7th largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Time Warner by 0.5% in the first quarter. Geode Capital Management LLC now owns 6,398,087 shares of the media conglomerate’s stock valued at $463,236,000 after buying an additional 34,327 shares in the last quarter. Legal & General Group Plc increased its stake in Time Warner by 1.6% in the first quarter. Legal & General Group Plc now owns 3,617,316 shares of the media conglomerate’s stock worth $262,434,000 after buying an additional 57,278 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Time Warner by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,664,921 shares of the media conglomerate’s stock worth $193,340,000 after buying an additional 51,715 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Time Warner by 50.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,807,086 shares of the media conglomerate’s stock worth $131,104,000 after buying an additional 603,700 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in Time Warner by 0.5% in the second quarter. New York State Teachers Retirement System now owns 1,549,724 shares of the media conglomerate’s stock worth $113,967,000 after buying an additional 8,371 shares during the last quarter. 80.68% of the stock is currently owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE:TWX) traded up 0.85% during midday trading on Tuesday, reaching $79.51. 2,581,424 shares of the company’s stock traded hands. The stock has a market cap of $61.85 billion, a PE ratio of 15.82 and a beta of 1.21. The stock’s 50 day moving average price is $78.07 and its 200-day moving average price is $76.30. Time Warner Inc. has a one year low of $55.53 and a one year high of $81.33.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.13. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The firm earned $7 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Equities analysts predict that Time Warner Inc. will post $5.42 earnings per share for the current year.
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