Mawer Investment Management Ltd. increased its stake in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 152.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,467,410 shares of the company's stock after buying an additional 6,919,574 shares during the period. Mawer Investment Management Ltd. owned about 0.67% of Tencent Music Entertainment Group worth $130,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its position in Tencent Music Entertainment Group by 6.7% during the fourth quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock worth $715,783,000 after purchasing an additional 3,987,116 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group in the 4th quarter worth about $1,237,000. Pictet Asset Management Holding SA grew its stake in Tencent Music Entertainment Group by 0.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 795,398 shares of the company's stock valued at $9,028,000 after acquiring an additional 5,233 shares during the last quarter. Norges Bank acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at about $99,539,000. Finally, Sava Infond d.o.o. purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $544,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Trading Down 0.1 %
Shares of NYSE:TME traded down $0.01 during midday trading on Thursday, reaching $14.28. The company's stock had a trading volume of 3,003,952 shares, compared to its average volume of 8,142,405. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The business has a 50 day moving average price of $13.02 and a 200 day moving average price of $12.07. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. 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 is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group's payout ratio is 28.81%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on TME. 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. Mizuho raised their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.
View Our Latest Research Report on TME
Tencent Music Entertainment Group Company Profile
(
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.
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