XTX Topco Ltd Takes $655,000 Position in Tencent Music Entertainment Group (NYSE:TME)

XTX Topco Ltd acquired a new position in shares of Tencent Music Entertainment Group (NYSE:TME) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 57,710 shares of the company’s stock, valued at approximately $655,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in Tencent Music Entertainment Group by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company’s stock worth $715,783,000 after buying an additional 3,987,116 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company’s stock worth $335,833,000 after acquiring an additional 332,264 shares during the period. Cantillon Capital Management LLC boosted its position in shares of Tencent Music Entertainment Group by 18.3% in the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company’s stock worth $247,893,000 after acquiring an additional 3,384,230 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in Tencent Music Entertainment Group by 21.8% in the fourth quarter. Krane Funds Advisors LLC now owns 19,855,951 shares of the company’s stock valued at $225,365,000 after purchasing an additional 3,560,452 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Tencent Music Entertainment Group by 558.2% during the fourth quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock worth $133,629,000 after purchasing an additional 9,984,690 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $12.29 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The stock’s 50 day moving average price is $13.21 and its 200 day moving average price is $12.22. The firm has a market capitalization of $21.08 billion, a PE ratio of 22.75, a price-to-earnings-growth 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. Investors of record on Thursday, April 3rd will be paid a dividend of $0.18 per share. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group’s payout ratio is 28.81%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a “strong-buy” rating in a report on Tuesday, April 8th. Morgan Stanley reissued an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Mizuho raised their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

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.