Truist Financial Corp Increases Position in Sony Group Co. (NYSE:SONY)

Truist Financial Corp raised its holdings in Sony Group Co. (NYSE:SONY) by 398.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 426,754 shares of the company’s stock after purchasing an additional 341,102 shares during the quarter. Truist Financial Corp’s holdings in Sony Group were worth $9,030,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SONY. Raymond James & Associates boosted its holdings in Sony Group by 4.1% in the third quarter. Raymond James & Associates now owns 286,528 shares of the company’s stock valued at $27,670,000 after purchasing an additional 11,268 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Sony Group in the third quarter valued at $1,418,000. Mediolanum International Funds Ltd purchased a new stake in Sony Group in the third quarter valued at $109,462,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Sony Group by 68.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after purchasing an additional 7,781 shares during the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in shares of Sony Group by 348.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 19,214 shares of the company’s stock worth $1,855,000 after acquiring an additional 14,930 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Stock Down 0.5 %

SONY opened at $24.81 on Friday. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.29. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $21.74 and a 200 day moving average price of $15.86. The company has a market cap of $150.01 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 9.98 and a beta of 0.96.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sell-side analysts expect that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

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