Russell Investments Group Ltd. Purchases 6,526 Shares of Sony Group Co. (NYSE:SONY)

Russell Investments Group Ltd. increased its position in shares of Sony Group Co. (NYSE:SONY) by 557.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,696 shares of the company’s stock after acquiring an additional 6,526 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sony Group were worth $163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SONY. Primecap Management Co. CA raised its holdings in shares of Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares during the last quarter. Fisher Asset Management LLC raised its stake in Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after acquiring an additional 36,783,737 shares during the last quarter. Mondrian Investment Partners LTD lifted its position in Sony Group by 358.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock worth $223,039,000 after acquiring an additional 7,925,643 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Sony Group by 401.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,141,717 shares of the company’s stock valued at $151,119,000 after purchasing an additional 5,718,378 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Sony Group by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock worth $125,477,000 after purchasing an additional 4,703,571 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

SONY has been the subject of several research reports. Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. The Goldman Sachs Group initiated coverage on shares of Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Sony Group Stock Down 0.6 %

Shares of SONY opened at $24.96 on Friday. The stock has a fifty day simple moving average of $24.15 and a two-hundred day simple moving average of $21.65. 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 market capitalization of $150.95 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.78.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. As a group, equities analysts forecast that Sony Group Co. will post 1.23 EPS for the current 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.