108,619 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. acquired a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 108,619 shares of the company’s stock, valued at approximately $1,904,000.

Several other hedge funds have also added to or reduced their stakes in TME. Royal Bank of Canada raised its position in Tencent Music Entertainment Group by 9.0% in the first quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after acquiring an additional 11,979 shares during the period. AQR Capital Management LLC raised its position in Tencent Music Entertainment Group by 107.5% in the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock worth $1,231,000 after acquiring an additional 44,265 shares during the period. Jones Financial Companies Lllp bought a new stake in Tencent Music Entertainment Group in the first quarter worth about $985,000. Acadian Asset Management LLC raised its position in Tencent Music Entertainment Group by 385,900.0% in the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock worth $722,000 after acquiring an additional 50,167 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Tencent Music Entertainment Group by 83.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after acquiring an additional 1,363 shares during the period. Institutional investors own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TME has been the topic of several research reports. UBS Group reissued a “neutral” rating and issued a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Barclays lowered their price target on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. lowered their price target on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Daiwa Securities Group reissued a “hold” rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Price Performance

Shares of NYSE:TME opened at $9.53 on Wednesday. The company has a 50 day moving average of $9.34 and a 200 day moving average of $14.05. The stock has a market cap of $14.76 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.62 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $8.44 and a 12 month high of $26.70. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. The company had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. As a group, sell-side analysts forecast that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were paid a dividend of $0.24 per share. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.18. This represents a yield of 262.0%. The ex-dividend date of this dividend was Thursday, April 2nd. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.75%.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.