Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700,923 shares of the company's stock after acquiring an additional 135,496 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Tencent Music Entertainment Group were worth $7,822,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of 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 worth $335,833,000 after purchasing an additional 332,264 shares during the last quarter. LPL Financial LLC increased its holdings in Tencent Music Entertainment Group by 40.2% in the fourth quarter. LPL Financial LLC now owns 69,539 shares of the company's stock valued at $789,000 after buying an additional 19,928 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Tencent Music Entertainment Group during the fourth quarter valued at approximately $1,853,000. Sei Investments Co. raised its stake in Tencent Music Entertainment Group by 33.1% during the fourth quarter. Sei Investments Co. now owns 3,355,701 shares of the company's stock valued at $38,087,000 after buying an additional 833,854 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Tencent Music Entertainment Group by 6.2% during the 4th quarter. American Century Companies Inc. now owns 749,447 shares of the company's stock worth $8,506,000 after buying an additional 43,859 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Price Performance
NYSE TME traded down $1.39 on Friday, reaching $12.94. 11,210,578 shares of the stock traded hands, compared to its average volume of 8,200,007. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a market cap of $22.20 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.77 and a beta of 0.50. The firm's fifty day simple moving average is $13.12 and its 200 day simple moving average is $12.13. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.
Tencent Music Entertainment Group Increases Dividend
The firm also recently declared an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a $0.18 dividend. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio is presently 28.81%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Finally, Mizuho lifted 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 report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $15.00.
Check Out Our Latest Report on Tencent Music Entertainment Group
About Tencent Music Entertainment Group
(
Free Report)
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.
Featured Stories
Before you consider Tencent Music Entertainment Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tencent Music Entertainment Group wasn't on the list.
While Tencent Music Entertainment Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
