Raymond James Financial Inc. Invests $36.96 Million in Sony Group Co. (NYSE:SONY)

Raymond James Financial Inc. acquired a new stake in shares of Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,746,877 shares of the company's stock, valued at approximately $36,964,000.

A number of other institutional investors have also modified their holdings of the business. Silicon Valley Capital Partners boosted its holdings in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after acquiring an additional 927 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Sony Group in the 4th quarter worth about $26,000. General Partner Inc. increased its stake in shares of Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock valued at $134,000 after buying an additional 716 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC boosted its position in shares of Sony Group by 400.0% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 1,500 shares of the company's stock worth $32,000 after buying an additional 1,200 shares during the period. Institutional investors own 14.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SONY shares. Sanford C. Bernstein started coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an "outperform" rating for the company. Oppenheimer reiterated an "outperform" rating and issued 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 Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $28.00.

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Sony Group Stock Performance

Shares of NYSE SONY opened at $23.65 on Thursday. The stock has a fifty day moving average price of $22.56 and a two-hundred day moving average price of $17.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market cap of $143.00 billion, a P/E ratio of 19.19, a PEG ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.64.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Research analysts forecast that Sony Group Co. will post 1.23 EPS 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.

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