Schroder Investment Management Group Raises Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Schroder Investment Management Group increased its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 63,064,552 shares of the company’s stock after acquiring an additional 3,987,116 shares during the period. Tencent Music Entertainment Group makes up 0.7% of Schroder Investment Management Group’s portfolio, making the stock its 25th biggest position. Schroder Investment Management Group’s holdings in Tencent Music Entertainment Group were worth $715,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tencent Music Entertainment Group in the third quarter worth about $64,000. SBI Securities Co. Ltd. acquired a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at approximately $114,000. PNC Financial Services Group Inc. lifted its position in shares of Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after purchasing an additional 1,094 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Tencent Music Entertainment Group in the third quarter valued at $170,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Down 2.6 %

Shares of NYSE TME opened at $14.36 on Friday. The stock has a market capitalization of $24.63 billion, a P/E ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70. The stock’s 50 day moving average price is $12.82 and its two-hundred day moving average price is $11.97. 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 has a 52-week low of $9.41 and a 52-week high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a $0.18 dividend. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is presently 28.81%.

Analysts Set New Price Targets

TME has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock 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.