Quantbot Technologies LP Sells 189,693 Shares of Tencent Music Entertainment Group (NYSE:TME)

Quantbot Technologies LP lessened its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 92.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,769 shares of the company's stock after selling 189,693 shares during the period. Quantbot Technologies LP's holdings in Tencent Music Entertainment Group were worth $168,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tencent Music Entertainment Group by 287.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company's stock worth $58,382,000 after purchasing an additional 3,594,383 shares during the period. Cantillon Capital Management LLC raised its position 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 worth $247,893,000 after purchasing an additional 3,384,230 shares during the last quarter. FMR LLC lifted its holdings in Tencent Music Entertainment Group by 98.8% during the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company's stock worth $71,948,000 after buying an additional 2,967,779 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at about $29,706,000. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $24,276,000. 24.32% of the stock is currently owned by institutional investors.

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Tencent Music Entertainment Group Stock Down 1.1 %

NYSE TME traded down $0.16 on Thursday, hitting $14.31. 5,809,187 shares of the company were exchanged, compared to its average volume of 8,156,920. The company has a market cap of $24.56 billion, a PE ratio of 26.50, a PEG ratio of 0.77 and a beta of 0.50. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The stock has a fifty day moving average of $13.09 and a 200-day moving average of $12.08. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 0.9%. 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 is currently 28.81%.

Analysts Set New Price Targets

A number of equities 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 upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

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.