Principal Securities Inc. Purchases 21,155 Shares of Sony Group Co. (NYSE:SONY)

Principal Securities Inc. grew its position in Sony Group Co. (NYSE:SONY) by 146.4% 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 35,608 shares of the company’s stock after purchasing an additional 21,155 shares during the quarter. Principal Securities Inc.’s holdings in Sony Group were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silicon Valley Capital Partners boosted its position in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after acquiring an additional 927 shares during the last quarter. General Partner Inc. raised its stake in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group during the fourth quarter valued at $26,000. Hilltop National Bank raised its stake in Sony Group by 346.3% during the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock valued at $32,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Sony Group by 400.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after purchasing an additional 1,204 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday. Finally, Sanford C. Bernstein assumed coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Up 0.8 %

Shares of Sony Group stock opened at $24.93 on Friday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $24.95. The stock has a market cap of $150.74 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 9.90 and a beta of 0.96. 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 firm’s 50-day moving average is $21.68 and its two-hundred day moving average is $15.71.

Sony Group (NYSE:SONY) last released 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 for the quarter, compared to analysts’ expectations of $24.32 billion. As a group, research analysts expect that Sony Group Co. will post 1.22 earnings per share for the current fiscal 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.