Ethic Inc. Invests $192,000 in Tencent Music Entertainment Group (NYSE:TME)

Ethic Inc. bought a new stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,913 shares of the company's stock, valued at approximately $192,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of 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 valued at $133,629,000 after acquiring an additional 9,984,690 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Tencent Music Entertainment Group in the 4th quarter worth about $113,031,000. Norges Bank acquired a new position in shares of Tencent Music Entertainment Group in the 4th quarter valued at about $99,539,000. Mawer Investment Management Ltd. grew its position in shares of Tencent Music Entertainment Group by 152.2% during the 4th quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company's stock valued at $130,155,000 after buying an additional 6,919,574 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Tencent Music Entertainment Group by 6.7% in the fourth quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock worth $715,783,000 after acquiring an additional 3,987,116 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analyst Ratings Changes

TME has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Mizuho lifted their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Up 3.5%

TME traded up $0.60 on Friday, reaching $17.53. 8,579,433 shares of the company traded hands, compared to its average volume of 8,224,984. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $17.55. 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 cap of $30.08 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 0.77 and a beta of 0.46. The stock's 50 day moving average price is $14.05 and its 200-day moving average price is $12.67.

Tencent Music Entertainment Group Increases Dividend

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