Central Pacific Bank Trust Division Boosts Position in Sony Group Co. (NYSE:SONY)

Central Pacific Bank Trust Division lifted its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 275.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,500 shares of the company's stock after acquiring an additional 77,400 shares during the period. Central Pacific Bank Trust Division's holdings in Sony Group were worth $2,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SONY. Allspring Global Investments Holdings LLC boosted its holdings in Sony Group by 56.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,578 shares of the company's stock valued at $644,000 after purchasing an additional 2,726 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Sony Group by 37.5% in the second quarter. Commonwealth Equity Services LLC now owns 32,329 shares of the company's stock worth $2,746,000 after acquiring an additional 8,811 shares during the period. Belpointe Asset Management LLC increased its stake in Sony Group by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company's stock worth $787,000 after acquiring an additional 128 shares during the last quarter. XY Capital Ltd raised its position in Sony Group by 486.2% in the second quarter. XY Capital Ltd now owns 78,498 shares of the company's stock valued at $6,668,000 after purchasing an additional 65,106 shares during the period. Finally, Addison Advisors LLC lifted its stake in shares of Sony Group by 11.2% in the 2nd quarter. Addison Advisors LLC now owns 2,386 shares of the company's stock valued at $203,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SONY. Daiwa America raised Sony Group to a "strong-buy" rating in a research report on Wednesday, September 18th. Oppenheimer decreased their price target on Sony Group from $108.00 to $25.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. StockNews.com lowered Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, TD Cowen dropped their target price on Sony Group from $107.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $24.00.

Sony Group Stock Up 1.1 %

SONY stock traded up $0.23 during mid-day trading on Friday, reaching $21.32. The company had a trading volume of 2,296,394 shares, compared to its average volume of 2,469,197. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $22.71. The company has a market capitalization of $128.94 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 13.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a fifty day simple moving average of $19.96 and a 200 day simple moving average of $11.37.

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.