Invesco Ltd. Sells 689,059 Shares of Tencent Music Entertainment Group (NYSE:TME)

Invesco Ltd. lowered its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,509,776 shares of the company's stock after selling 689,059 shares during the period. Invesco Ltd. owned about 1.31% of Tencent Music Entertainment Group worth $255,486,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Tencent Music Entertainment Group in the third quarter worth about $64,000. SBI Securities Co. Ltd. purchased a new position in Tencent Music Entertainment Group in the 4th quarter worth approximately $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group in the 4th quarter worth approximately $114,000. PNC Financial Services Group Inc. grew its holdings in 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 valued at $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 during the fourth quarter valued at approximately $161,000. Hedge funds and other institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Trading Down 3.4 %

Shares of TME traded down $0.44 during midday trading on Wednesday, hitting $12.36. The stock had a trading volume of 2,031,171 shares, compared to its average volume of 8,423,658. The stock's 50 day moving average is $13.22 and its 200 day moving average is $12.22. The firm has a market cap of $21.20 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.50. 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 has a 1 year low of $9.41 and a 1 year high of $15.77.

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Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a 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 presently 28.81%.

Analyst Ratings Changes

TME has been the subject of a number of research reports. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Finally, Mizuho increased their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of "Moderate Buy" and an average 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.