Dimensional Fund Advisors LP Has $36.93 Million Stake in Tencent Music Entertainment Group (NYSE:TME)

Dimensional Fund Advisors LP increased its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,253,409 shares of the company's stock after buying an additional 352,082 shares during the period. Dimensional Fund Advisors LP owned 0.19% of Tencent Music Entertainment Group worth $36,925,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Tencent Music Entertainment Group Stock Down 1.2 %

TME traded down $0.17 during trading on Wednesday, hitting $14.24. The company had a trading volume of 5,700,040 shares, compared to its average volume of 8,241,016. The company has a market capitalization of $24.44 billion, a PE ratio of 26.37, a PEG ratio of 0.77 and a beta of 0.46. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The firm's 50-day moving average price is $13.31 and its 200 day moving average price is $12.29.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were given a $0.18 dividend. The ex-dividend date was Thursday, April 3rd. This represents a dividend yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's payout ratio is currently 28.81%.

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.