Unigestion Holding SA Invests $161,000 in Tencent Music Entertainment Group (NYSE:TME)

Unigestion Holding SA bought a new stake in shares of Tencent Music Entertainment Group (NYSE:TME) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 14,191 shares of the company’s stock, valued at approximately $161,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Tencent Music Entertainment Group by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 877,343 shares of the company’s stock valued at $10,572,000 after acquiring an additional 115,315 shares during the last quarter. State Street Corp grew its holdings in Tencent Music Entertainment Group by 1.3% during the 3rd quarter. State Street Corp now owns 12,821,488 shares of the company’s stock valued at $154,499,000 after purchasing an additional 166,225 shares during the last quarter. Dorsey Wright & Associates grew its holdings in Tencent Music Entertainment Group by 12.7% during the 3rd quarter. Dorsey Wright & Associates now owns 225,275 shares of the company’s stock valued at $2,715,000 after purchasing an additional 25,381 shares during the last quarter. MML Investors Services LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter worth about $170,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $29,706,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of TME stock opened at $12.94 on Monday. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $13.12 and a two-hundred day simple moving average of $12.15. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.77 and a beta of 0.50.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.18 per share. This represents a yield of 0.9%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TME shares. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, Mizuho boosted their target price on shares of 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Tencent Music Entertainment Group presently 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.