CANADA LIFE ASSURANCE Co Has $8.42 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

CANADA LIFE ASSURANCE Co grew its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 39.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,474 shares of the company’s stock after acquiring an additional 214,500 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Tencent Music Entertainment Group were worth $8,416,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tobam acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth approximately $36,000. Lindbrook Capital LLC boosted its position in Tencent Music Entertainment Group by 40.9% during the 4th quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after acquiring an additional 2,044 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth approximately $90,000. Parallel Advisors LLC boosted its position in Tencent Music Entertainment Group by 27.1% during the 4th quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after acquiring an additional 2,328 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Tencent Music Entertainment Group by 24.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,624 shares of the company’s stock worth $132,000 after acquiring an additional 2,898 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price objective on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Benchmark upped their price objective on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tencent Music Entertainment Group presently has an average rating of “Moderate Buy” and an average price target of $12.75.

Tencent Music Entertainment Group Stock Down 1.9 %

TME stock opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.10 and a beta of 0.68. The business’s fifty day moving average price is $14.61 and its two-hundred day moving average price is $12.15. Tencent Music Entertainment Group has a fifty-two week low of $5.70 and a fifty-two week high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $937.00 million for the quarter, compared to analysts’ expectations of $904.29 million. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. On average, equities analysts anticipate that Tencent Music Entertainment Group will post 0.62 earnings per share for the current year.

Tencent Music Entertainment Group Dividend Announcement

The business also recently announced an annual dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, May 31st were issued a dividend of $0.121 per share. This represents a dividend yield of 0.78%. The ex-dividend date was Friday, May 31st. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 28.26%.

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.