Tencent Music Entertainment Group (NYSE:TME) Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC grew its holdings in Tencent Music Entertainment Group (NYSE:TME) by 16.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,126 shares of the company’s stock after buying an additional 9,643 shares during the period. Voya Investment Management LLC’s holdings in Tencent Music Entertainment Group were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Tencent Music Entertainment Group by 558.2% in the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock worth $133,629,000 after purchasing an additional 9,984,690 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Tencent Music Entertainment Group during the fourth quarter worth approximately $113,031,000. Norges Bank acquired a new position in Tencent Music Entertainment Group during the fourth quarter worth $99,539,000. Mawer Investment Management Ltd. grew its holdings in Tencent Music Entertainment Group by 152.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company’s stock valued at $130,155,000 after buying an additional 6,919,574 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Tencent Music Entertainment Group by 6.7% in the 4th 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 last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Trading Down 1.2 %

TME opened at $14.24 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm has a market cap of $24.44 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a 52 week low of $9.41 and a 52 week high of $15.77. The business has a fifty day simple moving average of $13.31 and a 200-day simple moving average of $12.29.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analysts Forecast Growth

TME has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Nomura Securities upgraded Tencent Music Entertainment Group to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Two equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.