UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 449,068 Shares of Tencent Music Entertainment Group (NYSE:TME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,395,945 shares of the company’s stock after selling 449,068 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tencent Music Entertainment Group were worth $49,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TME. SBI Securities Co. Ltd. bought a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth about $110,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth about $114,000. PNC Financial Services Group Inc. raised its stake in shares of Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after acquiring an additional 1,094 shares during the last quarter. Unigestion Holding SA bought a new position in shares of Tencent Music Entertainment Group during the fourth quarter valued at $161,000. Finally, Diametric Capital LP bought a new position in shares of Tencent Music Entertainment Group during the fourth quarter valued at $162,000. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $17.53 on Monday. 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 stock has a market capitalization of $30.08 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. The firm’s fifty day simple moving average is $14.05 and its two-hundred day simple moving average is $12.68. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $17.55.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a yield of 0.9%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s dividend payout ratio is 20.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TME shares. Mizuho raised their price target on shares of 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. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, Nomura Securities raised Tencent Music Entertainment Group to a “strong-buy” rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tencent Music Entertainment Group has an average rating of “Moderate Buy” and an average price target of $15.00.

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.