47,920 Shares in Tencent Music Entertainment Group (NYSE:TME) Acquired by Sava Infond d.o.o.

Sava Infond d.o.o. purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,920 shares of the company’s stock, valued at approximately $544,000.

A number of other large investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Tencent Music Entertainment Group in the 3rd quarter valued at about $64,000. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group during the fourth quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. purchased a new stake in Tencent Music Entertainment Group during the fourth quarter worth approximately $114,000. PNC Financial Services Group Inc. increased its position 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 acquiring an additional 1,094 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $169,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 2.3 %

Shares of NYSE TME opened at $14.73 on Friday. 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 has a 1 year low of $9.41 and a 1 year high of $15.77. The stock’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $11.92. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 0.77 and a beta of 0.70.

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 given a $0.18 dividend. 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. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio is presently 30.51%.

Analyst Ratings Changes

Several analysts recently issued reports on TME shares. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Mizuho increased their target price 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.