BNP Paribas Financial Markets Buys 78,696 Shares of Tencent Music Entertainment Group (NYSE:TME)

BNP Paribas Financial Markets raised its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,989,744 shares of the company’s stock after acquiring an additional 78,696 shares during the period. BNP Paribas Financial Markets owned approximately 0.12% of Tencent Music Entertainment Group worth $22,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TME. Barclays PLC boosted its stake in Tencent Music Entertainment Group by 5.8% in the 3rd quarter. Barclays PLC now owns 762,650 shares of the company’s stock valued at $9,189,000 after purchasing an additional 41,990 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $64,000. Franklin Resources Inc. boosted its position in shares of Tencent Music Entertainment Group by 20.9% in the third quarter. Franklin Resources Inc. now owns 577,113 shares of the company’s stock valued at $7,329,000 after acquiring an additional 99,799 shares during the period. Principal Financial Group Inc. grew its stake in shares of Tencent Music Entertainment Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock valued at $66,013,000 after acquiring an additional 211,873 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Tencent Music Entertainment Group by 81.2% during the fourth quarter. Harbour Capital Advisors LLC now owns 55,480 shares of the company’s stock worth $619,000 after acquiring an additional 24,860 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TME. Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Nomura Securities upgraded Tencent Music Entertainment Group to a “strong-buy” rating in a research note on Tuesday, April 8th. Mizuho upped 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. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

Tencent Music Entertainment Group Trading Down 0.9 %

TME opened at $14.08 on Friday. The company’s 50 day moving average is $13.38 and its 200-day moving average is $12.32. The company has a market cap of $24.16 billion, a P/E ratio of 26.07, a PEG ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year 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.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced 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. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s payout ratio is presently 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.