MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New Investment in Tencent Music Entertainment Group (NYSE:TME)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Tencent Music Entertainment Group (NYSE:TME) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,000 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tobam bought a new stake in Tencent Music Entertainment Group during the fourth quarter worth about $36,000. Headinvest LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 3rd quarter valued at about $39,000. Lindbrook Capital LLC grew its stake in shares of Tencent Music Entertainment Group by 40.9% in the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after acquiring an additional 2,044 shares during the period. SageView Advisory Group LLC purchased a new position in shares of Tencent Music Entertainment Group during the fourth quarter valued at approximately $90,000. Finally, Parallel Advisors LLC lifted its position in Tencent Music Entertainment Group by 27.1% during the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock valued at $98,000 after purchasing an additional 2,328 shares during the period. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 0.6 %

NYSE:TME opened at $14.43 on Wednesday. The company’s 50 day moving average is $14.12 and its two-hundred day moving average is $11.43. The company has a market cap of $24.76 billion, a PE ratio of 31.37, a P/E/G ratio of 1.05 and a beta of 0.68. Tencent Music Entertainment Group has a twelve month low of $5.70 and a twelve month high of $15.77. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group (NYSE:TME) last released its earnings results on Monday, May 13th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The firm had revenue of $937.00 million for the quarter, compared to the consensus estimate of $904.29 million. Analysts anticipate that Tencent Music Entertainment Group will post 0.62 EPS for the current year.

Tencent Music Entertainment Group Announces Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 27th. Investors of record on Friday, May 31st were issued a dividend of $0.121 per share. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, May 31st. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 28.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HSBC raised their price target on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Mizuho lifted their price objective on shares of Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Citigroup upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $13.00 in a report on Wednesday, March 20th. The Goldman Sachs Group raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, March 20th. Finally, Bank of America upped 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.75.

Tencent Music Entertainment Group Company 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.