Sony Group Co. (NYSE:SONY) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of Sony Group Co. (NYSE:SONY) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,391 shares of the company’s stock after selling 529 shares during the period. Rhumbline Advisers’ holdings in Sony Group were worth $1,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harding Loevner LP raised its holdings in Sony Group by 2,206.6% during the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after purchasing an additional 2,181,169 shares during the last quarter. Mondrian Investment Partners LTD increased its position in shares of Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after buying an additional 774,502 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Sony Group by 5.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock worth $602,106,000 after buying an additional 341,566 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Sony Group by 26.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after buying an additional 277,537 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Sony Group in the 2nd quarter valued at about $18,567,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Trading Down 0.2 %

Sony Group stock opened at $93.09 on Friday. The stock has a 50-day moving average price of $90.94 and a 200 day moving average price of $86.57. Sony Group Co. has a 52 week low of $75.11 and a 52 week high of $100.88. The stock has a market cap of $114.89 billion, a PE ratio of 17.11 and a beta of 0.95. 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 shares are scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The business had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Equities research analysts predict that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

SONY has been the subject of a number of research reports. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a research report on Wednesday. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

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.