Mawer Investment Management Ltd. Grows Position in Tencent Music Entertainment Group (NYSE:TME)

Mawer Investment Management Ltd. boosted its stake in Tencent Music Entertainment Group (NYSE:TME) by 152.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,467,410 shares of the company’s stock after acquiring an additional 6,919,574 shares during the period. Mawer Investment Management Ltd.’s holdings in Tencent Music Entertainment Group were worth $130,155,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Tencent Music Entertainment Group by 558.2% in the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock valued at $133,629,000 after acquiring an additional 9,984,690 shares during the period. Artisan Partners Limited Partnership purchased a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $113,031,000. Norges Bank acquired a new position in Tencent Music Entertainment Group during the fourth quarter worth $99,539,000. Schroder Investment Management Group boosted its position in shares of Tencent Music Entertainment Group by 6.7% during the fourth 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tencent Music Entertainment Group by 287.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company’s stock valued at $58,382,000 after buying an additional 3,594,383 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TME shares. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Finally, Mizuho raised their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group currently has an average rating of “Moderate Buy” and an average target price of $15.00.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $14.36 on Friday. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. The stock has a market capitalization of $24.63 billion, a PE ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70. 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 stock has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $11.97.

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 $0.18 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s payout ratio is currently 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.