B. Metzler seel. Sohn & Co. AG Has $2.48 Million Holdings in Tencent Music Entertainment Group (NYSE:TME)

B. Metzler seel. Sohn & Co. AG raised its stake in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 15.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 218,197 shares of the company's stock after purchasing an additional 29,821 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Tencent Music Entertainment Group were worth $2,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TME. Schroder Investment Management Group lifted its holdings in shares of Tencent Music Entertainment Group by 6.7% in the fourth quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock valued at $715,783,000 after purchasing an additional 3,987,116 shares in the last quarter. Vanguard Group Inc. raised its position in Tencent Music Entertainment Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company's stock valued at $335,833,000 after buying an additional 332,264 shares during the last quarter. Cantillon Capital Management LLC lifted its stake in Tencent Music Entertainment Group by 18.3% during the 4th quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock valued at $247,893,000 after acquiring an additional 3,384,230 shares in the last quarter. State Street Corp boosted its holdings in Tencent Music Entertainment Group by 1.3% during the 3rd quarter. State Street Corp now owns 12,821,488 shares of the company's stock worth $154,499,000 after acquiring an additional 166,225 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tencent Music Entertainment Group by 558.2% in the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company's stock worth $133,629,000 after acquiring an additional 9,984,690 shares in the last quarter. 24.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

TME has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $15.00.

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Tencent Music Entertainment Group Stock Up 0.5 %

Tencent Music Entertainment Group stock opened at $14.48 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $24.84 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.77 and a beta of 0.70. The firm has a 50 day moving average price of $12.96 and a 200-day moving average price of $12.05. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77.

Tencent Music Entertainment Group Increases Dividend

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

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