B. Metzler seel. Sohn & Co. AG Increases Stake in Tencent Music Entertainment Group Sponsored ADR $TME

B. Metzler seel. Sohn & Co. AG raised its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 44.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 249,887 shares of the company’s stock after purchasing an additional 76,535 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Tencent Music Entertainment Group were worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its position in Tencent Music Entertainment Group by 7.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock valued at $100,039,000 after buying an additional 387,109 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Tencent Music Entertainment Group by 85.7% during the 4th quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock valued at $9,505,000 after buying an additional 250,261 shares in the last quarter. Green Court Capital Management Ltd raised its stake in Tencent Music Entertainment Group by 93.1% in the 3rd quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company’s stock valued at $24,252,000 after purchasing an additional 501,078 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Tencent Music Entertainment Group in the 3rd quarter valued at $4,257,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tencent Music Entertainment Group by 414.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company’s stock worth $19,820,000 after acquiring an additional 910,767 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of TME opened at $9.34 on Friday. Tencent Music Entertainment Group Sponsored ADR has a one year low of $8.78 and a one year high of $26.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The stock’s fifty day moving average is $11.69 and its 200-day moving average is $16.42. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were issued a $0.24 dividend. This represents a dividend yield of 262.0%. The ex-dividend date was Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s payout ratio is presently 23.23%.

Analysts Set New Price Targets

TME has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $23.00 price objective on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Barclays decreased their target price on Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Daiwa Securities Group reaffirmed a “hold” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Finally, UBS Group reaffirmed a “neutral” rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.03.

Tencent Music Entertainment Group 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.