Northern Trust Corp Has $41.80 Million Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Northern Trust Corp increased its holdings in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 242.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,682,994 shares of the company's stock after acquiring an additional 2,606,781 shares during the period. Northern Trust Corp owned about 0.21% of Tencent Music Entertainment Group worth $41,802,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TME. Wilmington Savings Fund Society FSB acquired a new stake in Tencent Music Entertainment Group in the third quarter worth about $64,000. SBI Securities Co. Ltd. bought a new position in Tencent Music Entertainment Group in the fourth quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. acquired a new position in Tencent Music Entertainment Group in the 4th quarter worth $114,000. PNC Financial Services Group Inc. grew its holdings in shares of Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock worth $126,000 after buying an additional 1,094 shares in the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of Tencent Music Entertainment Group in the fourth quarter worth $161,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

TME stock traded down $0.13 during midday trading on Friday, reaching $14.08. 5,841,019 shares of the company were exchanged, compared to its average volume of 8,225,706. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The firm has a market capitalization of $24.16 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. The business has a 50-day moving average price of $13.38 and a two-hundred day moving average price of $12.32. 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 declared an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were paid a $0.18 dividend. The ex-dividend date was Thursday, April 3rd. This represents a 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 28.81%.

Analyst Ratings Changes

A number of research firms have recently commented on TME. Mizuho raised their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Finally, Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

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.