Envestnet Portfolio Solutions Inc. Has $3.50 Million Stock Holdings in Sony Group Co. (NYSE:SONY)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 394.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,528 shares of the company's stock after buying an additional 132,061 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sony Group were worth $3,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Natixis Advisors LLC lifted its position in Sony Group by 525.1% in the fourth quarter. Natixis Advisors LLC now owns 2,206,912 shares of the company's stock worth $46,698,000 after purchasing an additional 1,853,871 shares during the period. Frank Rimerman Advisors LLC lifted its position in Sony Group by 178.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 83,071 shares of the company's stock worth $1,758,000 after purchasing an additional 53,237 shares during the period. Aviso Financial Inc. lifted its position in Sony Group by 393.3% in the fourth quarter. Aviso Financial Inc. now owns 77,700 shares of the company's stock worth $1,644,000 after purchasing an additional 61,950 shares during the period. Mondrian Investment Partners LTD lifted its position in Sony Group by 358.2% in the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company's stock worth $223,039,000 after purchasing an additional 7,925,643 shares during the period. Finally, Madison Investment Advisors LLC acquired a new stake in Sony Group in the fourth quarter worth approximately $2,469,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Sony Group Price Performance

Shares of NYSE:SONY traded up $0.36 on Friday, reaching $25.25. 24,505,021 shares of the company traded hands, compared to its average volume of 3,866,277. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.64. The company's 50 day moving average is $23.08 and its 200-day moving average is $18.85. The stock has a market capitalization of $152.72 billion, a PE ratio of 20.50, a P/E/G ratio of 9.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Oppenheimer reiterated an "outperform" rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They set an "outperform" rating for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sony Group currently has an average rating of "Buy" and a consensus target price of $28.00.

About Sony Group

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.