Tencent Music Entertainment Group (NYSE:TME) Stock Holdings Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 901,402 shares of the company’s stock after buying an additional 27,500 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tencent Music Entertainment Group were worth $10,231,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in Tencent Music Entertainment Group by 31.7% in the third quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company’s stock worth $187,000 after purchasing an additional 3,746 shares during the period. Swiss National Bank lifted its holdings in Tencent Music Entertainment Group by 1.0% in the third quarter. Swiss National Bank now owns 1,704,330 shares of the company’s stock worth $20,537,000 after purchasing an additional 17,100 shares during the period. Caprock Group LLC acquired a new stake in Tencent Music Entertainment Group in the third quarter worth about $147,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Tencent Music Entertainment Group in the third quarter worth about $2,270,000. Finally, Avior Wealth Management LLC lifted its holdings in Tencent Music Entertainment Group by 253.8% in the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after purchasing an additional 4,071 shares during the period. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $14.00 on Friday. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 0.77 and a beta of 0.70. The firm has a 50-day moving average of $12.43 and a two-hundred day moving average of $11.81.

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 dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a yield of 0.9%. Tencent Music Entertainment Group’s dividend payout ratio is currently 22.03%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TME. Mizuho upped their price objective 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. Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.