Congress Wealth Management LLC DE Acquires 47,893 Shares of Sony Group Co. (NYSE:SONY)

Congress Wealth Management LLC DE boosted its stake in shares of Sony Group Co. (NYSE:SONY) by 443.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,705 shares of the company’s stock after acquiring an additional 47,893 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Sony Group were worth $1,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SONY. Primecap Management Co. CA lifted its holdings in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after acquiring an additional 80,724,932 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in shares of Sony Group by 358.2% during the fourth quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after buying an additional 7,925,643 shares during the period. Sei Investments Co. grew its stake in shares of Sony Group by 362.7% during the fourth quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock valued at $68,677,000 after buying an additional 2,544,193 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Sony Group by 384.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,090,160 shares of the company’s stock worth $65,323,000 after buying an additional 2,452,504 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SONY. Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group initiated coverage on shares of Sony Group in a report on Tuesday. They issued a “buy” rating on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Up 0.7 %

NYSE:SONY opened at $25.68 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.78. The company has a 50-day moving average of $23.49 and a 200 day moving average of $19.35. The firm has a market cap of $155.27 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, research analysts anticipate that Sony Group Co. will post 1.23 EPS for the current fiscal 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.