Allianz SE Invests $636,000 in Sony Group Co. (NYSE:SONY)

Allianz SE purchased a new stake in shares of Sony Group Co. (NYSE:SONY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the company's stock, valued at approximately $636,000.

Several other institutional investors also recently modified their holdings of SONY. Accent Capital Management LLC lifted its holdings in shares of Sony Group by 400.0% during the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after buying an additional 1,104 shares during the period. Intrust Bank NA grew its holdings in Sony Group by 431.1% during the fourth quarter. Intrust Bank NA now owns 58,301 shares of the company's stock valued at $1,234,000 after purchasing an additional 47,324 shares during the period. Brown Brothers Harriman & Co. increased its position in Sony Group by 412.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 7,125 shares of the company's stock worth $151,000 after buying an additional 5,735 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Sony Group by 375.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 318,484 shares of the company's stock worth $6,739,000 after buying an additional 251,565 shares during the period. Finally, Norges Bank bought a new position in shares of Sony Group during the 4th quarter valued at approximately $11,389,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an "outperform" rating on the stock. Oppenheimer reiterated an "outperform" rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group initiated coverage on Sony Group in a report on Tuesday, March 25th. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $28.00.

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Sony Group Price Performance

NYSE SONY traded down $0.30 during trading on Wednesday, hitting $24.87. 4,671,576 shares of the stock traded hands, compared to its average volume of 4,018,593. The company has a market capitalization of $150.41 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.78. The firm has a 50-day simple moving average of $23.76 and a 200-day simple moving average of $20.02. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. As a group, analysts predict that Sony Group Co. will post 1.23 EPS for the current year.

Sony Group Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.