Sony Group Co. (NYSE:SONY) Shares Sold by Balentine LLC

Balentine LLC reduced its stake in shares of Sony Group Co. (NYSE:SONY) by 21.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,426 shares of the company’s stock after selling 676 shares during the quarter. Balentine LLC’s holdings in Sony Group were worth $230,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after buying an additional 342,025 shares in the last quarter. Envestnet Asset Management Inc. increased its position 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 in the last quarter. Natixis Advisors L.P. increased its position in shares of Sony Group by 77.6% during the fourth quarter. Natixis Advisors L.P. now owns 315,680 shares of the company’s stock worth $29,891,000 after purchasing an additional 137,963 shares in the last quarter. Norges Bank purchased a new stake in shares of Sony Group during the fourth quarter worth approximately $10,193,000. Finally, Alberta Investment Management Corp increased its position in shares of Sony Group by 30.0% during the third quarter. Alberta Investment Management Corp now owns 260,000 shares of the company’s stock worth $21,427,000 after purchasing an additional 60,000 shares in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sony Group Stock Performance

NYSE SONY opened at $80.80 on Friday. The stock has a market cap of $99.72 billion, a PE ratio of 14.85 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 0.27. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.94. The stock has a fifty day simple moving average of $83.65 and a 200-day simple moving average of $88.52.

Sony Group (NYSE:SONY) last released 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 business had revenue of $23.45 billion during the quarter, compared to analysts’ expectations of $18.97 billion. Sony Group had a return on equity of 13.05% and a net margin of 7.95%. During the same period in the prior year, the business posted $0.78 EPS. Equities analysts anticipate that Sony Group Co. will post 5.84 earnings per share for the current year.

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.