Huntington National Bank Boosts Stake in Sony Group Co. (NYSE:SONY)

Huntington National Bank raised its position in shares of Sony Group Co. (NYSE:SONY) by 634.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,402 shares of the company’s stock after buying an additional 6,394 shares during the quarter. Huntington National Bank’s holdings in Sony Group were worth $157,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Primecap Management Co. CA increased its position in 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 purchasing an additional 80,724,932 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of 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 buying an additional 36,783,737 shares in the last quarter. Mondrian Investment Partners LTD increased its holdings in shares of Sony Group by 358.2% in the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock worth $223,039,000 after buying an additional 7,925,643 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Sony Group by 383.5% during the 4th quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock valued at $125,477,000 after buying an additional 4,703,571 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Sony Group by 362.7% in the 4th quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock valued at $68,677,000 after acquiring an additional 2,544,193 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SONY has been the topic of several analyst reports. Sanford C. Bernstein started coverage on Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating on the stock. The Goldman Sachs Group started coverage on Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Trading Down 6.7 %

SONY opened at $21.81 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The stock’s 50 day moving average price is $23.90 and its 200-day moving average price is $20.32. Sony Group Co. has a one year low of $15.02 and a one year high of $25.78. The stock has a market cap of $131.90 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 9.95 and a beta of 0.94.

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