Principal Securities Inc. Buys 21,155 Shares of Sony Group Co. (NYSE:SONY)

Principal Securities Inc. lifted its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 146.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,608 shares of the company's stock after purchasing an additional 21,155 shares during the period. Principal Securities Inc.'s holdings in Sony Group were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SONY. Silicon Valley Capital Partners increased its stake in shares of Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after buying an additional 927 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Sony Group in the fourth quarter worth about $26,000. General Partner Inc. increased its position in Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 996 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Sony Group by 106.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock worth $134,000 after purchasing an additional 716 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Sony Group by 400.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company's stock valued at $32,000 after purchasing an additional 1,204 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SONY shares. Oppenheimer reissued an "outperform" rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday. StockNews.com lowered shares of Sony Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They set an "outperform" rating on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sony Group presently has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Group Stock Down 0.5 %

Shares of NYSE:SONY traded down $0.12 during trading on Friday, hitting $24.81. 5,048,137 shares of the company were exchanged, compared to its average volume of 3,950,445. The stock has a market cap of $150.01 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 9.98 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.29. The firm has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $15.71.

Sony Group (NYSE:SONY - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, research analysts anticipate that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

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.