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

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC purchased a new stake in Tencent Music Entertainment Group during the third quarter valued at about $31,000. Allworth Financial LP increased its holdings in shares of Tencent Music Entertainment Group by 63.2% in the third quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after buying an additional 573 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Tencent Music Entertainment Group by 1,326.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,883 shares of the company’s stock valued at $44,000 after acquiring an additional 1,751 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock valued at $57,000 after acquiring an additional 1,397 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Tencent Music Entertainment Group by 83.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after acquiring an additional 1,363 shares during the period. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 0.1%

NYSE TME opened at $9.44 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $9.36 and a 1 year high of $26.70. The stock has a market capitalization of $14.62 billion, a PE ratio of 9.53, a PEG ratio of 0.62 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The business’s 50-day moving average is $14.48 and its 200 day moving average is $18.39.

Tencent Music Entertainment Group Increases Dividend

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

Analysts Set New Price Targets

TME has been the topic of several recent research reports. Daiwa Securities Group restated a “hold” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. UBS Group reissued a “neutral” rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 target price on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Mizuho decreased their target price on shares of Tencent Music Entertainment Group from $28.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Finally, Benchmark reiterated a “hold” rating on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.03.

About Tencent Music Entertainment Group

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.