Deutsche Bank AG Grows Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Deutsche Bank AG lifted its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,964,894 shares of the company's stock after buying an additional 18,130 shares during the quarter. Deutsche Bank AG owned approximately 0.23% of Tencent Music Entertainment Group worth $45,002,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $110,000. Oppenheimer Asset Management Inc. acquired a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $114,000. PNC Financial Services Group Inc. increased its stake in shares of Tencent Music Entertainment Group by 10.9% during the 4th 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 during the last quarter. Unigestion Holding SA purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth about $161,000. Finally, Diametric Capital LP purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth about $162,000. Institutional investors and hedge funds own 24.32% of the company's stock.

Analysts Set New Price Targets

TME has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Trading Up 1.8%

Shares of NYSE:TME traded up $0.29 during trading on Friday, reaching $16.65. 6,365,952 shares of the stock were exchanged, compared to its average volume of 8,251,529. 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 12-month low of $9.41 and a 12-month high of $17.05. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. The firm's 50-day moving average price is $13.65 and its 200 day moving average price is $12.46.

Tencent Music Entertainment Group Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were issued a $0.18 dividend. This represents a yield of 0.9%. The ex-dividend date was Thursday, April 3rd. This is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's dividend payout ratio is currently 28.81%.

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.