Tencent Music Entertainment Group (NYSE:TME) Shares Sold by Numerai GP LLC

Numerai GP LLC reduced its stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,420 shares of the company's stock after selling 36,266 shares during the quarter. Tencent Music Entertainment Group comprises 0.7% of Numerai GP LLC's holdings, making the stock its 28th largest holding. Numerai GP LLC's holdings in Tencent Music Entertainment Group were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in TME. Schroder Investment Management Group grew its stake in Tencent Music Entertainment Group by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock valued at $715,783,000 after purchasing an additional 3,987,116 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tencent Music Entertainment Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company's stock valued at $335,833,000 after acquiring an additional 332,264 shares in the last quarter. Cantillon Capital Management LLC increased its position in shares of Tencent Music Entertainment Group by 18.3% during the 4th quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock valued at $247,893,000 after purchasing an additional 3,384,230 shares during the last quarter. Krane Funds Advisors LLC increased its position in shares of Tencent Music Entertainment Group by 21.8% during the 4th quarter. Krane Funds Advisors LLC now owns 19,855,951 shares of the company's stock valued at $225,365,000 after purchasing an additional 3,560,452 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Tencent Music Entertainment Group by 558.2% in the fourth quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company's stock valued at $133,629,000 after purchasing an additional 9,984,690 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Down 0.1%

Shares of TME traded down $0.02 during midday trading on Monday, hitting $16.61. The company had a trading volume of 1,749,709 shares, compared to its average volume of 8,226,986. The company's 50-day simple moving average is $13.65 and its 200-day simple moving average is $12.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $28.50 billion, a P/E ratio of 30.77, a P/E/G ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $17.05.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced 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 a positive change 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 dividend payout ratio (DPR) is 20.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on TME shares. Sanford C. Bernstein restated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday. Mizuho increased their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Two equities research 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 stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of "Moderate Buy" and a consensus price target 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.