Nomura Asset Management Co. Ltd. Lowers Position in Tencent Music Entertainment Group Sponsored ADR $TME

Nomura Asset Management Co. Ltd. lessened its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 72.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,300 shares of the company’s stock after selling 201,786 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Tencent Music Entertainment Group were worth $1,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TME. Smartleaf Asset Management LLC bought a new position in Tencent Music Entertainment Group during the 3rd quarter valued at approximately $31,000. Allworth Financial LP increased its position in Tencent Music Entertainment Group by 63.2% during the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after buying an additional 573 shares in the last quarter. Jones Financial Companies Lllp increased its position in Tencent Music Entertainment Group by 137.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock valued at $57,000 after buying an additional 1,397 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Tencent Music Entertainment Group by 83.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after buying an additional 1,363 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in Tencent Music Entertainment Group by 69.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,087 shares of the company’s stock valued at $95,000 after buying an additional 1,673 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

TME has been the subject of a number of analyst reports. Daiwa Securities Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Jefferies Financial Group reaffirmed 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. 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 research report on Wednesday, March 18th. Barclays reduced their price objective on Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Finally, Weiss Ratings lowered Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.44.

Tencent Music Entertainment Group Stock Down 2.2%

Tencent Music Entertainment Group stock opened at $9.10 on Friday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.60 and a beta of 0.80. The stock has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $13.82. 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 posted its earnings results on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%. Equities analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were issued a $0.24 dividend. This represents a dividend yield of 262.0%. The ex-dividend date of this dividend 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 dividend payout ratio is 28.75%.

About Tencent Music Entertainment Group

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.