First Hawaiian Bank Buys Shares of 89,689 Tencent Music Entertainment Group (NYSE:TME)

First Hawaiian Bank acquired a new stake in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 89,689 shares of the company's stock, valued at approximately $1,292,000.

A number of other large investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in 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 valued at $126,000 after acquiring an additional 1,094 shares during the period. BNP Paribas boosted its holdings in Tencent Music Entertainment Group by 2.0% during the 4th quarter. BNP Paribas now owns 58,066 shares of the company's stock valued at $659,000 after acquiring an additional 1,131 shares during the period. Corient Private Wealth LLC boosted its holdings in Tencent Music Entertainment Group by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock valued at $383,000 after acquiring an additional 1,370 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Tencent Music Entertainment Group by 3.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock worth $586,000 after buying an additional 1,923 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Tencent Music Entertainment Group by 5.7% in the 4th quarter. Quadrant Capital Group LLC now owns 36,604 shares of the company's stock worth $415,000 after buying an additional 1,981 shares during the period. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Nomura Securities raised Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Mizuho upped their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Tencent Music Entertainment Group Stock Performance

Shares of TME traded up $0.33 during mid-day trading on Wednesday, reaching $17.71. The company had a trading volume of 2,081,711 shares, compared to its average volume of 8,183,632. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $18.06. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $30.39 billion, a P/E ratio of 32.80, a PEG ratio of 0.77 and a beta of 0.46. The stock has a 50 day moving average of $14.49 and a two-hundred day moving average of $12.98.

Tencent Music Entertainment Group Increases Dividend

The firm 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 an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's dividend payout ratio is currently 20.24%.

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.