Cerity Partners LLC Has $573,000 Holdings in Tencent Music Entertainment Group (NYSE:TME)

Cerity Partners LLC lifted its position in Tencent Music Entertainment Group (NYSE:TME) by 45.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,074 shares of the company’s stock after buying an additional 15,589 shares during the quarter. Cerity Partners LLC’s holdings in Tencent Music Entertainment Group were worth $573,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TME. Wilmington Savings Fund Society FSB bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at about $64,000. SBI Securities Co. Ltd. bought a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $114,000. PNC Financial Services Group Inc. boosted its stake in shares of 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 period. Finally, Unigestion Holding SA acquired a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $161,000. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Down 0.4 %

TME opened at $12.29 on Monday. The company has a 50-day simple moving average of $13.21 and a 200 day simple moving average of $12.20. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 0.77 and a beta of 0.50.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be issued a $0.18 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. 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 currently 28.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TME. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a “strong-buy” rating in a research note on Tuesday, April 8th. Mizuho raised 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 research report on Wednesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.