Deutsche Bank AG Has $45 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Deutsche Bank AG boosted its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,964,894 shares of the company's stock after purchasing an additional 18,130 shares during the period. Deutsche Bank AG owned approximately 0.23% of Tencent Music Entertainment Group worth $45,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Tencent Music Entertainment Group by 24.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 605,200 shares of the company's stock worth $6,869,000 after acquiring an additional 118,600 shares in the last quarter. CastleKnight Management LP acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth about $2,651,000. Balyasny Asset Management L.P. increased its holdings in shares of Tencent Music Entertainment Group by 2,271.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,924,231 shares of the company's stock valued at $21,840,000 after acquiring an additional 1,843,075 shares during the period. BNP Paribas lifted its holdings in shares of Tencent Music Entertainment Group by 2.0% in the fourth quarter. BNP Paribas now owns 58,066 shares of the company's stock valued at $659,000 after purchasing an additional 1,131 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Tencent Music Entertainment Group by 4.1% in the fourth quarter. BNP Paribas Financial Markets now owns 1,989,744 shares of the company's stock worth $22,584,000 after buying an additional 78,696 shares during the period. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TME has been the subject of a number of recent research reports. 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. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho increased their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Price Performance

NYSE TME traded down $0.10 on Monday, hitting $16.53. The company had a trading volume of 1,050,702 shares, compared to its average volume of 8,224,235. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $28.36 billion, a PE ratio of 30.60, a PEG ratio of 0.77 and a beta of 0.46. The company's fifty day moving average price is $13.65 and its 200-day moving average price is $12.48. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $17.05.

Tencent Music Entertainment Group Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group's payout ratio is currently 20.24%.

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.