Sony Group Co. (NYSE:SONY) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Sony Group Co. (NYSE:SONY) by 40.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,105 shares of the company’s stock after buying an additional 610 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sony Group were worth $199,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Morgan Stanley increased its position in shares of Sony Group by 0.4% in the 3rd quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after acquiring an additional 15,415 shares during the period. Royal Bank of Canada raised its stake in shares of 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 last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Sony Group by 39.0% during 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. Sei Investments Co. boosted its position in Sony Group by 0.5% in the third quarter. Sei Investments Co. now owns 526,865 shares of the company’s stock valued at $43,419,000 after buying an additional 2,459 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Sony Group by 6.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 378,854 shares of the company’s stock worth $31,221,000 after buying an additional 24,427 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Shares of NYSE SONY opened at $82.33 on Friday. Sony Group Co. has a 1 year low of $79.62 and a 1 year high of $100.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. The company’s fifty day moving average price is $85.70 and its 200 day moving average price is $88.88. The company has a market capitalization of $101.61 billion, a PE ratio of 15.89 and a beta of 0.98.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The business had revenue of $25.38 billion for the quarter, compared to analyst estimates of $24.31 billion. On average, research analysts predict that Sony Group Co. will post 5.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SONY. Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a report on Monday, February 26th. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.00.

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.