Dimensional Fund Advisors LP Purchases 352,082 Shares of Tencent Music Entertainment Group (NYSE:TME)

Dimensional Fund Advisors LP boosted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,253,409 shares of the company’s stock after acquiring an additional 352,082 shares during the period. Dimensional Fund Advisors LP’s holdings in Tencent Music Entertainment Group were worth $36,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Tencent Music Entertainment Group by 9.5% in the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company’s stock valued at $16,738,000 after purchasing an additional 127,561 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $114,000. Principal Financial Group Inc. boosted its position in Tencent Music Entertainment Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock worth $66,013,000 after acquiring an additional 211,873 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Tencent Music Entertainment Group by 2.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 502,083 shares of the company’s stock worth $5,884,000 after acquiring an additional 10,905 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Tencent Music Entertainment Group by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,463,596 shares of the company’s stock valued at $50,323,000 after purchasing an additional 160,078 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock opened at $14.31 on Monday. The stock has a 50-day moving average price of $13.21 and a two-hundred day moving average price of $12.24. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a market capitalization of $24.56 billion, a PE ratio of 26.50, a P/E/G ratio of 0.77 and a beta of 0.46. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analysts Forecast Growth

TME has been the topic of several recent research reports. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a “strong-buy” rating in a research note on Tuesday, April 8th. 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 report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.