Tencent Music Entertainment Group (NYSE:TME) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 92.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,769 shares of the company’s stock after selling 189,693 shares during the quarter. Quantbot Technologies LP’s holdings in Tencent Music Entertainment Group were worth $168,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new position in shares of Tencent Music Entertainment Group in the 4th quarter worth about $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group in the fourth quarter worth about $114,000. PNC Financial Services Group Inc. boosted its stake in Tencent Music Entertainment Group by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after acquiring an additional 1,094 shares during the period. Finally, MML Investors Services LLC bought a new position in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $170,000. Institutional investors own 24.32% of the company’s stock.

Analysts Set New Price Targets

TME has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Finally, Mizuho lifted 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 research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Tencent Music Entertainment Group Stock Down 2.6 %

NYSE TME opened at $14.36 on Monday. The company has a market capitalization of $24.63 billion, a P/E ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company’s 50 day simple moving average is $12.82 and its 200 day simple moving average is $11.98.

Tencent Music Entertainment Group Increases Dividend

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

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.