Krane Funds Advisors LLC Acquires 3,560,452 Shares of Tencent Music Entertainment Group (NYSE:TME)

Krane Funds Advisors LLC lifted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,855,951 shares of the company’s stock after buying an additional 3,560,452 shares during the quarter. Tencent Music Entertainment Group makes up approximately 9.2% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 5th largest position. Krane Funds Advisors LLC owned approximately 1.16% of Tencent Music Entertainment Group worth $225,365,000 as of its most recent SEC filing.

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

Tencent Music Entertainment Group Stock Down 9.7 %

NYSE TME opened at $12.94 on Monday. 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 52 week low of $9.41 and a 52 week high of $15.77. The business’s fifty day simple moving average is $13.12 and its 200-day simple moving average is $12.15. The firm has a market cap of $22.20 billion, a PE ratio of 23.95, a P/E/G ratio of 0.77 and a beta of 0.50.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.18 per share. The ex-dividend date is 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 dividend payout ratio (DPR) is currently 28.81%.

Analyst Upgrades and Downgrades

TME has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Tencent Music Entertainment Group 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.