PNC Financial Services Group Inc. Buys 217,176 Shares of Sony Group Co. (NYSE:SONY)

PNC Financial Services Group Inc. raised its stake in Sony Group Co. (NYSE:SONY - Free Report) by 429.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,751 shares of the company's stock after purchasing an additional 217,176 shares during the period. PNC Financial Services Group Inc.'s holdings in Sony Group were worth $5,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Sony Group during the fourth quarter valued at about $3,507,000. Banco Santander S.A. acquired a new position in shares of Sony Group during the fourth quarter valued at about $690,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Sony Group during the fourth quarter valued at about $41,000. Berkshire Asset Management LLC PA grew its holdings in shares of Sony Group by 209.6% during the fourth quarter. Berkshire Asset Management LLC PA now owns 12,720 shares of the company's stock valued at $265,000 after buying an additional 8,611 shares during the last quarter. Finally, West Family Investments Inc. grew its holdings in shares of Sony Group by 392.9% during the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company's stock valued at $566,000 after buying an additional 21,303 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Up 3.0 %

SONY opened at $23.65 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market cap of $143.00 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 9.95 and a beta of 0.91. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.64. The company's 50-day moving average price is $22.56 and its two-hundred day moving average price is $17.84.

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Sony Group (NYSE:SONY - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating 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 analysts' expectations of $24.32 billion. As a group, equities analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.

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