Orion Portfolio Solutions LLC Cuts Holdings in Sony Group Co. (NYSE:SONY)

by · The Cerbat Gem

Orion Portfolio Solutions LLC lessened its position in shares of Sony Group Co. (NYSE:SONY – Free Report) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,260 shares of the company’s stock after selling 1,989 shares during the period. Orion Portfolio Solutions LLC’s holdings in Sony Group were worth $5,625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONY. Fisher Asset Management LLC lifted its stake in shares of Sony Group by 5.6% during the second quarter. Fisher Asset Management LLC now owns 5,595,382 shares of the company’s stock worth $503,808,000 after purchasing an additional 295,054 shares in the last quarter. Bank of America Corp DE raised its stake in Sony Group by 27.2% during the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock worth $402,598,000 after acquiring an additional 949,271 shares during the period. Morgan Stanley lifted its holdings in Sony Group by 6.9% in the fourth quarter. Morgan Stanley now owns 4,059,644 shares of the company’s stock worth $309,670,000 after acquiring an additional 263,316 shares during the last quarter. BlackRock Inc. raised its position in shares of Sony Group by 32.8% during the 2nd quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock worth $316,869,000 after purchasing an additional 869,957 shares during the period. Finally, AGF Management Ltd. lifted its holdings in shares of Sony Group by 14.2% in the 2nd quarter. AGF Management Ltd. now owns 2,224,558 shares of the company’s stock worth $200,299,000 after purchasing an additional 276,089 shares during the last quarter. 8.02% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Stock Up 1.2 %

Shares of Sony Group stock opened at $99.02 on Friday. The stock’s fifty day moving average is $91.08 and its 200-day moving average is $87.91. The firm has a market capitalization of $122.21 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. Sony Group Co. has a 12-month low of $79.62 and a 12-month high of $100.94. The company has a quick ratio of 0.47, a current ratio of 0.66 and a debt-to-equity ratio of 0.26.

Sony Group (NYSE:SONY – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.07). Sony Group had a return on equity of 12.35% and a net margin of 7.55%. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $19.93 billion. Equities analysts anticipate that Sony Group Co. will post 5.37 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on SONY. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Wolfe Research started coverage on shares of Sony Group in a research report on Tuesday, December 12th. They set an “outperform” rating on the stock. StockNews.com assumed coverage on Sony Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Benchmark initiated coverage on Sony Group in a report on Monday, October 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Sony Group has an average rating of “Moderate Buy” and a consensus price target of $118.00.

View Our Latest Report on SONY

About Sony Group

(Free Report)

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.

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