Edmond DE Rothschild Holding S.A. Lowers Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Edmond DE Rothschild Holding S.A. trimmed its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 239,750 shares of the company's stock after selling 124,000 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Tencent Music Entertainment Group were worth $2,721,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TME. Schroder Investment Management Group boosted its position in shares of Tencent Music Entertainment Group by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock worth $715,783,000 after buying an additional 3,987,116 shares in the last quarter. Vanguard Group Inc. raised its position in Tencent Music Entertainment Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company's stock worth $335,833,000 after acquiring an additional 332,264 shares during the last quarter. Cantillon Capital Management LLC lifted its holdings in shares of Tencent Music Entertainment Group by 18.3% in the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock valued at $247,893,000 after purchasing an additional 3,384,230 shares in the last quarter. State Street Corp grew its position 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Tencent Music Entertainment Group by 558.2% during the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company's stock worth $133,629,000 after purchasing an additional 9,984,690 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company's stock.

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Analyst Ratings Changes

A number of research firms recently issued reports on TME. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Finally, Mizuho lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Trading Down 1.1 %

Shares of NYSE:TME traded down $0.16 during midday trading on Thursday, reaching $14.31. The company's stock had a trading volume of 5,809,187 shares, compared to its average volume of 8,151,947. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 26.50, 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 of this dividend is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group's 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.