Sumitomo Mitsui Trust Group Inc. Has $12.18 Million Stake in Sony Group Co. (NYSE:SONY)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Sony Group Co. (NYSE:SONY) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,124 shares of the company’s stock after selling 14,414 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Sony Group were worth $12,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mediolanum International Funds Ltd bought a new position in Sony Group in the 3rd quarter worth $109,462,000. Marshall Wace LLP boosted its position in shares of Sony Group by 8,495.0% during the 2nd quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after acquiring an additional 838,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Sony Group during the 2nd quarter valued at about $18,567,000. Alight Capital Management LP acquired a new stake in shares of Sony Group during the 2nd quarter valued at about $12,742,000. Finally, Delta Capital Management LLC lifted its holdings in Sony Group by 400.0% during the 3rd quarter. Delta Capital Management LLC now owns 162,925 shares of the company’s stock valued at $15,734,000 after purchasing an additional 130,340 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SONY shares. StockNews.com raised shares of Sony Group from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer dropped their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, TD Cowen dropped their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sony Group presently has an average rating of “Buy” and an average price target of $24.00.

Sony Group Stock Performance

Shares of SONY opened at $18.46 on Monday. The firm has a 50-day moving average of $14.06 and a 200-day moving average of $7.19. Sony Group Co. has a one year low of $15.02 and a one year high of $20.67. The company has a market cap of $111.64 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 11.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.47.

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.