SG Americas Securities LLC Purchases 250,261 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

SG Americas Securities LLC boosted its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 85.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,198 shares of the company’s stock after purchasing an additional 250,261 shares during the quarter. SG Americas Securities LLC’s holdings in Tencent Music Entertainment Group were worth $9,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Tencent Music Entertainment Group during the 2nd quarter valued at $110,813,000. Krane Funds Advisors LLC raised its position in shares of Tencent Music Entertainment Group by 25.4% in the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock worth $421,593,000 after buying an additional 3,856,410 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Tencent Music Entertainment Group during the third quarter valued at $88,175,000. Robeco Institutional Asset Management B.V. boosted its stake in Tencent Music Entertainment Group by 174.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 5,319,631 shares of the company’s stock valued at $124,160,000 after buying an additional 3,384,583 shares during the period. Finally, Fullerton Fund Management Co Ltd. purchased a new position in Tencent Music Entertainment Group during the second quarter worth about $28,061,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Trading Up 0.1%

Shares of TME stock opened at $9.44 on Monday. The business has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $18.39. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $9.36 and a 12-month high of $26.70. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a market cap of $14.62 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 0.62 and a beta of 0.56.

Tencent Music Entertainment Group Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd will be given a $0.24 dividend. This represents a yield of 238.0%. The ex-dividend date is Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s dividend payout ratio is presently 23.23%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TME shares. Benchmark reaffirmed a “hold” rating on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Morgan Stanley restated an “equal weight” rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. UBS Group reaffirmed a “neutral” rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, Mizuho dropped their target price on shares of Tencent Music Entertainment Group from $28.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.03.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.