Sony Group Co. (NYSE:SONY) Shares Acquired by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC boosted its holdings in Sony Group Co. (NYSE:SONY) by 385.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,679 shares of the company’s stock after purchasing an additional 21,976 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Sony Group were worth $586,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its position in shares of Sony Group by 379.5% in the 4th 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% during the fourth 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 period. Mondrian Investment Partners LTD lifted its holdings in Sony Group by 358.2% in the fourth 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 last quarter. Clearbridge Investments LLC boosted its stake in Sony Group by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock valued at $125,477,000 after acquiring an additional 4,703,571 shares during the period. Finally, Sei Investments Co. boosted its stake in Sony Group by 362.7% in the fourth 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 period. Institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sony Group Stock Down 6.7 %

SONY opened at $21.81 on Friday. The stock’s 50 day moving average price is $23.90 and its 200 day moving average price is $20.32. 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 $131.90 billion, a P/E ratio of 17.70, a P/E/G ratio of 9.95 and a beta of 0.94. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $25.78.

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