Sony Group Co. (NYSE:SONY) Stake Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in Sony Group Co. (NYSE:SONY) by 1.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,575 shares of the company’s stock after selling 957 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sony Group were worth $4,884,000 as of its most recent filing with the SEC.

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

Sony Group Price Performance

NYSE SONY opened at $19.06 on Friday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.67. The stock’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $7.71. The company has a market cap of $115.27 billion, a PE ratio of 15.62, a PEG ratio of 12.08 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SONY shares. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. TD Cowen reduced 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. Oppenheimer lowered their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $24.00.

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.