2 weeks Ago By Defense World Staff
Russell Investments Group Ltd. cut its holdings in shares of Tencent Music Entertainment Group ( NYSE:TME – Free Report ) by 46.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The firm owned 109,156 shares of the company’s stock after selling 95,921 shares during the period. Russell Investments Group Ltd.’s holdings in Tencent Music Entertainment Group were worth $1,239,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TME. Wilmington Savings Fund Society FSB bought a new stake in Tencent Music Entertainment Group during the third quarter worth approximately $64,000. SBI Securities Co.
Ltd. purchased a new stake in Tencent Music Entertainment Group in the 4th quarter worth approximately $110,000. Oppenheimer Asset Management Inc.
purchased a new position in Tencent Music Entertainment Group in the fourth quarter valued at about $114,000. PNC Financial Services Group Inc. raised its position in Tencent Music Entertainment Group by 10.
9% during 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 in the last quarter.
Finally, Diametric Capital LP acquired a new stake in shares of Tencent Music Entertainment Group in the 4th quarter valued at $162,000. Institutional investors and hedge funds own 24.32% of the company’s stock.
Analyst Upgrades and Downgrades A number of brokerages have recently commented on TME. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Nomura Securities raised shares of Tencent Music Entertainment Group to a “strong-buy” rating in a report on Tuesday, April 8th.
Mizuho lifted their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th.
Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Two investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.
00. Tencent Music Entertainment Group Stock Performance NYSE:TME opened at $12.29 on Monday.
Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77.
The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.
34. The company has a 50 day simple moving average of $13.21 and a two-hundred day simple moving average of $12.
20. The company has a market capitalization of $21.08 billion, a PE ratio of 22.
75, a P/E/G ratio of 0.77 and a beta of 0.50.
Tencent Music Entertainment Group Increases Dividend The company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a $0.18 dividend.
The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 0.9%.
This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.
81%. About Tencent Music Entertainment Group ( Free Report ) 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.
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