SouthState Corp Has $14.69 Million Stake in Sony Group Co. (NYSE:SONY)

SouthState Corp grew its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 385.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 694,261 shares of the company's stock after acquiring an additional 551,359 shares during the period. Sony Group accounts for 1.0% of SouthState Corp's investment portfolio, making the stock its 29th biggest holding. SouthState Corp's holdings in Sony Group were worth $14,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SONY. Silicon Valley Capital Partners lifted its stake in Sony Group by 401.3% in 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 last quarter. General Partner Inc. raised its holdings in shares of Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sony Group in the 4th quarter valued at $26,000. Fairscale Capital LLC boosted its holdings in Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock worth $26,000 after purchasing an additional 992 shares in the last quarter. Finally, Hilltop National Bank boosted its holdings in Sony Group by 346.3% in the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company's stock worth $32,000 after purchasing an additional 1,174 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

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Sony Group Stock Performance

Sony Group stock traded down $0.10 on Thursday, reaching $24.88. 4,333,825 shares of the stock were exchanged, compared to its average volume of 3,768,531. 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 twelve month low of $15.02 and a twelve month high of $25.64. The firm has a fifty day moving average price of $22.90 and a two-hundred day moving average price of $18.55. The stock has a market cap of $150.44 billion, a PE ratio of 20.19, a PEG ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sell-side analysts anticipate that Sony Group Co. will post 1.23 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating for the company. Oppenheimer reissued an "outperform" rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One 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 company's stock. According to data from MarketBeat, Sony Group has a consensus rating of "Buy" and an average target price 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.