Tencent Music Entertainment Group (NYSE:TME) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Tencent Music Entertainment Group (NYSE:TME) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 901,402 shares of the company’s stock after acquiring an additional 27,500 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Tencent Music Entertainment Group worth $10,231,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Tencent Music Entertainment Group by 86.0% in the third quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock worth $2,235,000 after acquiring an additional 84,161 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Tencent Music Entertainment Group by 33.6% in the third quarter. BNP Paribas Financial Markets now owns 1,911,048 shares of the company’s stock worth $23,028,000 after acquiring an additional 480,504 shares during the last quarter. Nordea Investment Management AB raised its holdings in Tencent Music Entertainment Group by 9.5% in the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company’s stock valued at $16,738,000 after buying an additional 127,561 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Tencent Music Entertainment Group in the fourth quarter valued at approximately $114,000. Finally, Principal Financial Group Inc. raised its holdings in Tencent Music Entertainment Group by 4.0% in the third quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock valued at $66,013,000 after buying an additional 211,873 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TME has been the topic of several recent analyst reports. Mizuho upped their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company 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 target on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Down 2.0 %

TME stock opened at $14.00 on Friday. 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. The firm has a fifty day moving average price of $12.43 and a two-hundred day moving average price of $11.81. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 0.77 and a beta of 0.70.

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 given 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 a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s dividend payout ratio is currently 22.03%.

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.