Sei Investments Co. grew its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 33.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,355,701 shares of the company's stock after acquiring an additional 833,854 shares during the period. Sei Investments Co. owned 0.20% of Tencent Music Entertainment Group worth $38,087,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. 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 worth $126,000 after acquiring an additional 1,094 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Tencent Music Entertainment Group by 4.2% during the fourth quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock valued at $383,000 after purchasing an additional 1,370 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Tencent Music Entertainment Group by 9.1% in the third quarter. Intech Investment Management LLC now owns 19,850 shares of the company's stock valued at $239,000 after purchasing an additional 1,664 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Tencent Music Entertainment Group by 3.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock worth $586,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Tencent Music Entertainment Group by 31.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company's stock worth $187,000 after buying an additional 3,746 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Trading Down 2.6 %
NYSE TME traded down $0.39 on Friday, reaching $14.36. The company had a trading volume of 4,531,413 shares, compared to its average volume of 8,174,326. 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 stock has a market cap of $24.63 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 0.77 and a beta of 0.70. The stock's 50 day moving average is $12.82 and its 200-day moving average is $11.95.
Tencent Music Entertainment Group Increases Dividend
The company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.18 dividend. This represents a dividend yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is currently 30.51%.
Analyst Ratings Changes
A number of research firms have recently weighed in on TME. Mizuho boosted their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 19th. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Tencent Music Entertainment Group has an average rating of "Moderate Buy" and an average price target of $15.00.
View Our Latest Report on Tencent Music Entertainment Group
Tencent Music Entertainment Group Profile
(
Free Report)
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.
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