DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Raises Holdings in Tencent Music Entertainment Group (NYSE:TME)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Tencent Music Entertainment Group (NYSE:TME) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 605,200 shares of the company’s stock after purchasing an additional 118,600 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Tencent Music Entertainment Group were worth $6,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TME. CastleKnight Management LP acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $2,651,000. Balyasny Asset Management L.P. boosted its stake in Tencent Music Entertainment Group by 2,271.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,924,231 shares of the company’s stock worth $21,840,000 after purchasing an additional 1,843,075 shares during the period. BNP Paribas grew its position in Tencent Music Entertainment Group by 2.0% during the 4th quarter. BNP Paribas now owns 58,066 shares of the company’s stock worth $659,000 after purchasing an additional 1,131 shares during the last quarter. BNP Paribas Financial Markets grew its position in Tencent Music Entertainment Group by 4.1% during the 4th quarter. BNP Paribas Financial Markets now owns 1,989,744 shares of the company’s stock worth $22,584,000 after purchasing an additional 78,696 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Tencent Music Entertainment Group by 242.2% in the fourth quarter. Northern Trust Corp now owns 3,682,994 shares of the company’s stock valued at $41,802,000 after purchasing an additional 2,606,781 shares during the period. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $14.08 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The firm has a market capitalization of $24.16 billion, a P/E ratio of 26.07, a PEG ratio of 0.77 and a beta of 0.46. The company’s fifty day moving average is $13.38 and its two-hundred day moving average is $12.32.

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s payout ratio is currently 28.81%.

Analysts Set New Price Targets

TME has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Mizuho lifted their target price 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. Nomura Securities upgraded Tencent Music Entertainment Group to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

About Tencent Music Entertainment Group

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.