B. Metzler seel. Sohn & Co. AG Acquires 29,821 Shares of Tencent Music Entertainment Group (NYSE:TME)

B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 15.8% during the fourth quarter, HoldingsChannel reports. The fund owned 218,197 shares of the company’s stock after purchasing an additional 29,821 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Tencent Music Entertainment Group were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Tencent Music Entertainment Group in the third quarter valued at $64,000. SBI Securities Co. Ltd. bought a new position in Tencent Music Entertainment Group in the 4th quarter worth about $110,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at about $114,000. PNC Financial Services Group Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after buying an additional 1,094 shares in the last quarter. Finally, MML Investors Services LLC bought a new position in shares of Tencent Music Entertainment Group in the third quarter valued at approximately $170,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TME shares. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Finally, Mizuho lifted their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Tencent Music Entertainment Group Stock Performance

NYSE TME opened at $14.48 on Wednesday. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The company has a fifty day moving average of $12.96 and a 200-day moving average of $12.05. The company has a market capitalization of $24.84 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a $0.18 dividend. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio is presently 28.81%.

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.