Raymond James Trust N.A. Purchases 3,064 Shares of Sony Group Co. (NYSE:SONY)

Raymond James Trust N.A. lifted its stake in Sony Group Co. (NYSE:SONY - Free Report) by 32.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,612 shares of the company's stock after purchasing an additional 3,064 shares during the period. Raymond James Trust N.A.'s holdings in Sony Group were worth $1,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in shares of Sony Group by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 532,329 shares of the company's stock valued at $50,406,000 after buying an additional 23,724 shares in the last quarter. US Bancorp DE increased its holdings in Sony Group by 75.3% during the 4th quarter. US Bancorp DE now owns 128,351 shares of the company's stock valued at $12,154,000 after acquiring an additional 55,129 shares in the last quarter. Everpar Advisors LLC acquired a new position in Sony Group during the fourth quarter worth about $907,000. Ethic Inc. lifted its holdings in shares of Sony Group by 18.0% in the fourth quarter. Ethic Inc. now owns 119,939 shares of the company's stock valued at $11,357,000 after purchasing an additional 18,334 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Sony Group in the fourth quarter valued at approximately $1,153,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Group Trading Up 0.5 %

Sony Group stock traded up $0.43 during midday trading on Monday, reaching $92.82. The stock had a trading volume of 423,248 shares, compared to its average volume of 843,033. The stock's 50-day simple moving average is $87.57 and its 200 day simple moving average is $85.93. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The stock has a market capitalization of $114.56 billion, a PE ratio of 17.05 and a beta of 0.94.

Shares of Sony Group are set to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Analysts expect that Sony Group Co. will post 5.68 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Sony Group from a "buy" rating to a "hold" rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.00.

Sony Group Company 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.