Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 514,200 Tencent Music Entertainment Group (NYSE:TME)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Tencent Music Entertainment Group (NYSE:TME) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 514,200 shares of the company’s stock, valued at approximately $4,633,000.

Several other large investors also recently made changes to their positions in TME. Janiczek Wealth Management LLC boosted its stake in Tencent Music Entertainment Group by 8.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 16,559 shares of the company’s stock worth $149,000 after purchasing an additional 1,311 shares during the period. Signaturefd LLC lifted its holdings in shares of Tencent Music Entertainment Group by 5.1% in the fourth quarter. Signaturefd LLC now owns 33,465 shares of the company’s stock valued at $302,000 after purchasing an additional 1,628 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Tencent Music Entertainment Group by 13.6% in the fourth quarter. Cigna Investments Inc. New now owns 15,186 shares of the company’s stock valued at $137,000 after purchasing an additional 1,817 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Tencent Music Entertainment Group by 40.9% during the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after buying an additional 2,044 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Tencent Music Entertainment Group by 27.1% during the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after buying an additional 2,328 shares in the last quarter. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $14.36 on Wednesday. The firm has a 50-day moving average of $13.64 and a 200-day moving average of $11.07. The company has a market cap of $24.64 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67. Tencent Music Entertainment Group has a one year low of $5.70 and a one year high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Monday, May 13th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $904.29 million. Tencent Music Entertainment Group had a net margin of 18.88% and a return on equity of 9.85%. As a group, equities analysts forecast that Tencent Music Entertainment Group will post 0.62 earnings per share for the current year.

Tencent Music Entertainment Group Announces Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.121 per share. The ex-dividend date is Friday, May 31st. This represents a dividend yield of 0.78%. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 26.09%.

Analyst Ratings Changes

TME has been the topic of several research reports. Morgan Stanley boosted their target price on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Mizuho increased their target price on shares of Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Citigroup raised shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $13.00 in a research report on Wednesday, March 20th. Bank of America boosted their price target on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Benchmark increased their price objective on shares of Tencent Music Entertainment Group from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.75.

About Tencent Music Entertainment Group

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.