Sony Group Co. (NYSE:SONY) Stake Lessened by Eagle Global Advisors LLC

Eagle Global Advisors LLC lessened its stake in Sony Group Co. (NYSE:SONYFree Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,684 shares of the company’s stock after selling 405 shares during the period. Eagle Global Advisors LLC’s holdings in Sony Group were worth $5,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after purchasing an additional 342,025 shares during the period. Morgan Stanley boosted its holdings in Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after purchasing an additional 15,415 shares during the period. Royal Bank of Canada boosted its holdings in Sony Group by 1.0% in the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after purchasing an additional 12,467 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sony Group by 39.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock worth $87,952,000 after purchasing an additional 299,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Sony Group by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 547,573 shares of the company’s stock worth $51,850,000 after purchasing an additional 2,350 shares during the period. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Sony Group stock traded down $0.51 during midday trading on Friday, reaching $80.29. 737,982 shares of the stock traded hands, compared to its average volume of 841,015. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $83.65 and a two-hundred day moving average price of $88.52. The firm has a market cap of $99.10 billion, a price-to-earnings ratio of 14.76 and a beta of 0.95. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.94.

Sony Group (NYSE:SONYGet Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $23.45 billion during the quarter, compared to analyst estimates of $18.97 billion. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. During the same period in the prior year, the business posted $0.78 EPS. On average, equities research analysts forecast that Sony Group Co. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SONY shares. Oppenheimer reissued an “outperform” rating and set a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Macquarie lowered shares of Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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About Sony Group

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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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Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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