Natixis Advisors LLC Cuts Stake in Sony Group Co. (NYSE:SONY)

Natixis Advisors LLC cut its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 275,171 shares of the company's stock after selling 29,690 shares during the quarter. Natixis Advisors LLC's holdings in Sony Group were worth $23,376,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of Sony Group by 107.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company's stock valued at $123,000 after buying an additional 673 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Sony Group during the 4th quarter valued at $306,000. 9258 Wealth Management LLC acquired a new stake in shares of Sony Group during the 4th quarter worth $221,000. Sapient Capital LLC bought a new position in shares of Sony Group in the fourth quarter worth $318,000. Finally, Axxcess Wealth Management LLC acquired a new position in Sony Group in the fourth quarter valued at about $231,000. Institutional investors own 14.05% of the company's stock.

Sony Group Trading Down 1.1 %

Shares of Sony Group stock traded down $1.03 during midday trading on Wednesday, reaching $94.45. The company had a trading volume of 552,139 shares, compared to its average volume of 839,267. The firm has a market cap of $116.57 billion, a PE ratio of 17.36 and a beta of 0.94. The stock has a fifty day moving average price of $89.96 and a 200 day moving average price of $86.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.88.

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

Sony Group (NYSE:SONY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. On average, equities analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Analyst Ratings Changes

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