DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Position in Tencent Music Entertainment Group (NYSE:TME)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Tencent Music Entertainment Group (NYSE:TME) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,200 shares of the company’s stock after buying an additional 118,600 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Tencent Music Entertainment Group were worth $6,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TME. Schroder Investment Management Group grew its stake in 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 valued at $715,783,000 after acquiring an additional 3,987,116 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tencent Music Entertainment Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company’s stock worth $335,833,000 after purchasing an additional 332,264 shares in the last quarter. Cantillon Capital Management LLC raised its position in shares of 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. Krane Funds Advisors LLC lifted its stake in Tencent Music Entertainment Group by 21.8% in the 4th quarter. Krane Funds Advisors LLC now owns 19,855,951 shares of the company’s stock valued at $225,365,000 after buying an additional 3,560,452 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 valued at $133,629,000 after buying an additional 9,984,690 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $14.08 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a market cap of $24.16 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. The stock’s 50-day moving average is $13.38 and its 200-day moving average is $12.32.

Tencent Music Entertainment Group Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a $0.18 dividend. The ex-dividend date was 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 presently 28.81%.

Analyst Upgrades and Downgrades

TME has been the subject of a number of analyst reports. Mizuho boosted their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. 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 note on Tuesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. 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’s stock. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.