Robeco Institutional Asset Management B.V. Boosts Position in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Robeco Institutional Asset Management boosted its stake in Tencent Music (NYSE: TME) by 7.3%, adding 387,109 shares to hold 5,706,740 shares worth about $100.04 million at quarter-end.
• Tencent Music raised its annual dividend to $0.24 (up from $0.18) with an ex-dividend date of April 2 and payment on April 23, and reported a dividend payout ratio of 23.23%.
• Wall Street sentiment is mixed: the consensus rating is a “Hold” with an average price target of $22.03 (six Buys vs. eight Holds reported).

Robeco Institutional Asset Management B.V. boosted its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,706,740 shares of the company's stock after buying an additional 387,109 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Tencent Music Entertainment Group were worth $100,039,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Tencent Music Entertainment Group by 9.0% during the first quarter. Royal Bank of Canada now owns 144,475 shares of the company's stock valued at $2,082,000 after purchasing an additional 11,979 shares during the period. AQR Capital Management LLC raised its stake in shares of Tencent Music Entertainment Group by 107.5% during the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company's stock valued at $1,231,000 after purchasing an additional 44,265 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Tencent Music Entertainment Group during the first quarter valued at approximately $985,000. Acadian Asset Management LLC raised its stake in shares of Tencent Music Entertainment Group by 385,900.0% during the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company's stock valued at $722,000 after purchasing an additional 50,167 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company's stock valued at $59,000 after purchasing an additional 1,363 shares during the period. Hedge funds and other institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $9.35 on Monday. The company has a market cap of $14.48 billion, a PE ratio of 9.44, a P/E/G ratio of 0.61 and a beta of 0.80. The company has a fifty day moving average price of $12.99 and a two-hundred day moving average price of $17.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $8.78 and a 12 month high of $26.70.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd will be paid a $0.24 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.18. This represents a yield of 262.0%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is 23.23%.

Wall Street Analysts Forecast Growth

TME has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. UBS Group reiterated a "neutral" rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Benchmark reissued a "hold" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $23.00 price target on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.03.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group NYSE: TME is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent's music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.

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