Sumitomo Mitsui Trust Group Inc. Raises Position in Sony Group Co. (NYSE:SONY)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 536.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 802,825 shares of the company's stock after buying an additional 676,701 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Sony Group were worth $16,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management lifted its position in shares of Sony Group by 475.3% during the 4th quarter. Financial Advocates Investment Management now owns 19,611 shares of the company's stock valued at $415,000 after buying an additional 16,202 shares during the last quarter. Adero Partners LLC bought a new position in shares of Sony Group during the 4th quarter valued at about $219,000. Bleakley Financial Group LLC increased its position in shares of Sony Group by 447.7% during the 4th quarter. Bleakley Financial Group LLC now owns 17,821 shares of the company's stock valued at $377,000 after purchasing an additional 14,567 shares during the last quarter. Choreo LLC increased its position in shares of Sony Group by 370.9% during the 4th quarter. Choreo LLC now owns 133,990 shares of the company's stock valued at $2,842,000 after purchasing an additional 105,537 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its position in Sony Group by 400.0% during the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company's stock worth $763,000 after acquiring an additional 28,852 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SONY. Sanford C. Bernstein began coverage on Sony Group in a report on Thursday, January 16th. They issued an "outperform" rating for the company. Oppenheimer lowered their price objective on Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Finally, StockNews.com cut Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sony Group has a consensus rating of "Buy" and a consensus target price of $24.00.

Sony Group Stock Performance

NYSE SONY traded up $0.97 on Friday, hitting $24.16. 5,032,566 shares of the company traded hands, compared to its average volume of 3,630,980. The company has a market capitalization of $146.08 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 11.46 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. The business's 50 day moving average price is $21.46 and its 200-day moving average price is $15.28. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $24.25.

Sony Group (NYSE:SONY - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. Equities analysts expect that Sony Group Co. will post 1.21 earnings per share for the current year.

About Sony Group

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.