Tencent Music Entertainment Group (NYSE:TME) Shares Bought by Barclays PLC

Barclays PLC grew its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,982 shares of the company's stock after buying an additional 108,332 shares during the quarter. Barclays PLC owned 0.05% of Tencent Music Entertainment Group worth $9,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Tencent Music Entertainment Group during the 3rd quarter valued at about $64,000. SBI Securities Co. Ltd. acquired a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $110,000. Oppenheimer Asset Management Inc. purchased a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $114,000. PNC Financial Services Group Inc. grew its holdings in Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock valued at $126,000 after buying an additional 1,094 shares during the last quarter. Finally, Unigestion Holding SA purchased a new position in Tencent Music Entertainment Group during the fourth quarter worth $161,000. Institutional investors and hedge funds own 24.32% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Mizuho upped their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Tencent Music Entertainment Group Price Performance

TME opened at $12.50 on Wednesday. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. The company's 50 day simple moving average is $13.19 and its 200 day simple moving average is $12.19. The stock has a market capitalization of $21.44 billion, a PE ratio of 23.14, a P/E/G ratio of 0.77 and a beta of 0.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.

Tencent Music Entertainment Group Increases Dividend

The business 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's dividend payout ratio (DPR) is 28.81%.

About Tencent Music Entertainment Group

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.

Want to see what other hedge funds are holding TME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tencent Music Entertainment Group (NYSE:TME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.