Eurizon Capital SGR S.p.A. Makes New $1.90 Million Investment in Tencent Music Entertainment Group Sponsored ADR $TME

Eurizon Capital SGR S.p.A. purchased a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 108,619 shares of the company’s stock, valued at approximately $1,904,000.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC acquired a new stake in Tencent Music Entertainment Group in the third quarter worth $31,000. Allworth Financial LP grew its holdings in Tencent Music Entertainment Group by 63.2% in the third quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after purchasing an additional 573 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Tencent Music Entertainment Group by 137.4% during the third 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 during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Tencent Music Entertainment Group by 83.0% during the second 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 during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of Tencent Music Entertainment Group by 69.3% during the third 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 during the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TME shares. Mizuho reduced their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. UBS Group reiterated a “neutral” rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Jefferies Financial Group reiterated a “buy” rating and set a $23.00 price objective on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Finally, Daiwa Securities Group reiterated a “hold” rating and set a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Stock Up 0.3%

Tencent Music Entertainment Group stock opened at $9.53 on Wednesday. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $8.44 and a fifty-two week high of $26.70. The stock has a market cap of $14.76 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.62 and a beta of 0.80. The firm’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $14.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The business had revenue of $1.15 billion for the quarter. Research 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 company also recently declared an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were issued a dividend of $0.24 per share. This represents a yield of 262.0%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.75%.

Tencent Music Entertainment Group Company Profile

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.