Union Bancaire Privee UBP SA Has $2.53 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA boosted its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 448.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,390 shares of the company's stock after buying an additional 150,740 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Tencent Music Entertainment Group were worth $2,526,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Tencent Music Entertainment Group by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,767,319 shares of the company's stock valued at $20,059,000 after acquiring an additional 4,837 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Tencent Music Entertainment Group by 8.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,496,359 shares of the company's stock valued at $73,539,000 after purchasing an additional 522,599 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Tencent Music Entertainment Group by 2.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 502,083 shares of the company's stock valued at $5,884,000 after purchasing an additional 10,905 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Tencent Music Entertainment Group during the 4th quarter worth approximately $375,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Tencent Music Entertainment Group by 21.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 366,311 shares of the company's stock worth $4,158,000 after buying an additional 63,615 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Up 2.4%

Shares of Tencent Music Entertainment Group stock traded up $0.45 during trading on Monday, reaching $18.87. 5,458,755 shares of the company traded hands, compared to its average volume of 8,160,804. The company has a 50 day moving average price of $15.36 and a 200-day moving average price of $13.43. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $19.40. The firm has a market capitalization of $32.38 billion, a PE ratio of 34.94, a P/E/G ratio of 0.77 and a beta of 0.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34.

Tencent Music Entertainment Group Increases Dividend

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

Analyst Ratings Changes

Several research firms recently commented on TME. 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 report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Nomura Securities raised Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Mizuho lifted their price objective 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $15.00.

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.