Tencent Music Entertainment Group (NYSE:TME) Shares Bought by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lifted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 152.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,467,410 shares of the company’s stock after buying an additional 6,919,574 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.67% of Tencent Music Entertainment Group worth $130,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TME. Schroder Investment Management Group raised its position in Tencent Music Entertainment Group by 6.7% during the fourth quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company’s stock worth $715,783,000 after acquiring an additional 3,987,116 shares during the period. Ramirez Asset Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth about $1,237,000. Pictet Asset Management Holding SA raised its position in shares of Tencent Music Entertainment Group by 0.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 795,398 shares of the company’s stock worth $9,028,000 after purchasing an additional 5,233 shares during the last quarter. Norges Bank purchased a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $99,539,000. Finally, Sava Infond d.o.o. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter worth about $544,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 2.6 %

Shares of NYSE:TME opened at $14.36 on Friday. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The stock has a market cap of $24.63 billion, a P/E ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70. The business has a fifty day moving average of $12.82 and a two-hundred day moving average of $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 Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is 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 currently 28.81%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley reissued an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Mizuho increased their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Tencent Music Entertainment Group 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.