Tencent Music Entertainment Group (NYSE:TME) Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group increased its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,064,552 shares of the company’s stock after purchasing an additional 3,987,116 shares during the quarter. Tencent Music Entertainment Group accounts for 0.7% of Schroder Investment Management Group’s investment portfolio, making the stock its 25th biggest holding. Schroder Investment Management Group owned approximately 3.67% of Tencent Music Entertainment Group worth $715,783,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Tencent Music Entertainment Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company’s stock worth $335,833,000 after buying an additional 332,264 shares during the last quarter. Cantillon Capital Management LLC raised its position in Tencent Music Entertainment Group by 18.3% during the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company’s stock worth $247,893,000 after acquiring an additional 3,384,230 shares during the last quarter. State Street Corp lifted its holdings in shares of Tencent Music Entertainment Group by 1.3% in the third quarter. State Street Corp now owns 12,821,488 shares of the company’s stock valued at $154,499,000 after purchasing an additional 166,225 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Tencent Music Entertainment Group by 558.2% in the fourth quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock valued at $133,629,000 after purchasing an additional 9,984,690 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $113,031,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TME. Mizuho increased their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Down 2.6 %

Shares of NYSE:TME opened at $14.36 on Friday. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $15.77. The stock’s 50-day moving average price is $12.82 and its two-hundred day moving average price is $11.97. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70.

Tencent Music Entertainment Group Increases Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.18 per share. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group’s dividend payout ratio is 28.81%.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.