Sei Investments Co. Purchases 833,854 Shares of Tencent Music Entertainment Group (NYSE:TME)

Sei Investments Co. increased its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 33.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,355,701 shares of the company’s stock after purchasing an additional 833,854 shares during the period. Sei Investments Co. owned approximately 0.20% of Tencent Music Entertainment Group worth $38,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $64,000. Avior Wealth Management LLC increased its position in Tencent Music Entertainment Group by 253.8% during the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after acquiring an additional 4,071 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter worth about $110,000. Oppenheimer Asset Management Inc. bought a new stake in Tencent Music Entertainment Group in the 4th quarter valued at about $114,000. Finally, PNC Financial Services Group Inc. grew its position 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 purchasing an additional 1,094 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Trading Up 1.5 %

Shares of TME stock opened at $14.22 on Tuesday. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77. The stock’s fifty day moving average price is $12.51 and its two-hundred day moving average price is $11.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $24.39 billion, a PE ratio of 26.32, a P/E/G ratio of 0.77 and a beta of 0.70.

Tencent Music Entertainment Group Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a yield of 0.9%. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 30.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TME shares. Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Tuesday, January 21st. Mizuho lifted their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of “Moderate Buy” and an average target price 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.