Unigestion Holding SA Purchases Shares of 14,191 Tencent Music Entertainment Group (NYSE:TME)

Unigestion Holding SA acquired a new position in Tencent Music Entertainment Group (NYSE:TME) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,191 shares of the company’s stock, valued at approximately $161,000.

A number of other large investors have also recently made changes to their positions in TME. Wilmington Savings Fund Society FSB bought a new stake in Tencent Music Entertainment Group during the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at $110,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at $114,000. PNC Financial Services Group Inc. boosted its holdings in Tencent Music Entertainment Group by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after buying an additional 1,094 shares during the period. Finally, Diametric Capital LP purchased a new stake in Tencent Music Entertainment Group in the 4th quarter worth $162,000. 24.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TME has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. 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. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Price Performance

Shares of Tencent Music Entertainment Group stock opened at $12.94 on Monday. The firm has a market cap of $22.20 billion, a PE ratio of 23.95, a PEG ratio of 0.77 and a beta of 0.50. The stock has a 50 day moving average of $13.12 and a 200 day moving average of $12.15. 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 has a 12 month low of $9.41 and a 12 month high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.18 per share. 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 is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio is currently 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.