Park Avenue Securities LLC Decreases Stock Holdings in Sony Group Co. (NYSE:SONY)

Park Avenue Securities LLC lowered its stake in shares of Sony Group Co. (NYSE:SONY) by 0.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 54,121 shares of the company’s stock after selling 271 shares during the period. Park Avenue Securities LLC’s holdings in Sony Group were worth $5,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. American National Bank grew its holdings in shares of Sony Group by 11.3% in the second quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after acquiring an additional 119 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Sony Group by 1.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after purchasing an additional 124 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Sony Group by 20.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock worth $64,000 after purchasing an additional 128 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of Sony Group by 1.4% in the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after buying an additional 128 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Sony Group by 1.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

NYSE SONY traded up $0.85 on Friday, reaching $94.85. 458,539 shares of the stock were exchanged, compared to its average volume of 810,550. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. Sony Group Co. has a one year low of $75.11 and a one year high of $100.88. The firm has a market capitalization of $117.07 billion, a PE ratio of 17.44 and a beta of 0.94. The company’s 50-day simple moving average is $24.42 and its two-hundred day simple moving average is $19.55.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Analysts expect that Sony Group Co. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on SONY shares. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Sony Group Company 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.