Sony Group Co. (NYSE:SONY) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its holdings in Sony Group Co. (NYSE:SONY) by 398.2% in the fourth quarter, Holdings Channel reports. The fund owned 426,754 shares of the company’s stock after buying an additional 341,102 shares during the period. Truist Financial Corp’s holdings in Sony Group were worth $9,030,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SONY. Raymond James & Associates raised its holdings in Sony Group by 4.1% in the 3rd quarter. Raymond James & Associates now owns 286,528 shares of the company’s stock valued at $27,670,000 after acquiring an additional 11,268 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Sony Group in the 3rd quarter valued at about $1,418,000. Mediolanum International Funds Ltd acquired a new stake in Sony Group in the 3rd quarter valued at about $109,462,000. Wealth Enhancement Advisory Services LLC raised its holdings in Sony Group by 68.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after acquiring an additional 7,781 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Sony Group by 348.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after acquiring an additional 14,930 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Performance

Sony Group stock opened at $24.81 on Friday. The firm has a 50 day simple moving average of $21.74 and a 200-day simple moving average of $15.86. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.29. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock has a market cap of $150.01 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 9.98 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on SONY shares. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a report on Thursday. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $28.00.

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.