Corient Private Wealth LLC Purchases 1,370 Shares of Tencent Music Entertainment Group (NYSE:TME)

Corient Private Wealth LLC grew its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,708 shares of the company’s stock after buying an additional 1,370 shares during the quarter. Corient Private Wealth LLC’s holdings in Tencent Music Entertainment Group were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Cantillon Capital Management LLC lifted its holdings in Tencent Music Entertainment Group by 18.3% during the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company’s stock worth $247,893,000 after acquiring an additional 3,384,230 shares during the period. State Street Corp increased its position in shares of Tencent Music Entertainment Group by 1.3% during the 3rd quarter. State Street Corp now owns 12,821,488 shares of the company’s stock valued at $154,499,000 after purchasing an additional 166,225 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Tencent Music Entertainment Group by 8.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,496,359 shares of the company’s stock valued at $73,539,000 after purchasing an additional 522,599 shares during the last quarter. FMR LLC boosted its holdings in shares of Tencent Music Entertainment Group by 98.8% in the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company’s stock worth $71,948,000 after buying an additional 2,967,779 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Tencent Music Entertainment Group by 4.0% during 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.

Wall Street Analysts Forecast Growth

TME has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Mizuho lifted their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. 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 and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Down 2.6 %

TME opened at $14.36 on Monday. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The company has a market cap of $24.63 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $12.82 and a 200 day moving average of $11.98.

Tencent Music Entertainment Group Increases Dividend

The business 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 $0.18 dividend. The ex-dividend date is Thursday, April 3rd. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group’s payout ratio is 28.81%.

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.