Raymond James & Associates Acquires 11,268 Shares of Sony Group Co. (NYSE:SONY)

Raymond James & Associates boosted its holdings in shares of Sony Group Co. (NYSE:SONY) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,528 shares of the company’s stock after purchasing an additional 11,268 shares during the quarter. Raymond James & Associates’ holdings in Sony Group were worth $27,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONY. Blue Trust Inc. grew its holdings in Sony Group by 64.4% during the 3rd quarter. Blue Trust Inc. now owns 5,662 shares of the company’s stock valued at $547,000 after buying an additional 2,217 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in Sony Group during the 3rd quarter valued at approximately $220,000. Aaron Wealth Advisors LLC grew its holdings in Sony Group by 26.8% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 8,362 shares of the company’s stock valued at $808,000 after buying an additional 1,769 shares in the last quarter. Stonegate Investment Group LLC purchased a new position in Sony Group during the 3rd quarter valued at approximately $251,000. Finally, Ellsworth Advisors LLC grew its holdings in Sony Group by 6.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 17,769 shares of the company’s stock valued at $1,716,000 after buying an additional 1,135 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of Sony Group stock opened at $17.71 on Friday. The stock has a market cap of $107.07 billion, a price-to-earnings ratio of 16.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The stock has a 50 day moving average price of $9.14 and a 200-day moving average price of $5.40. Sony Group Co. has a one year low of $15.02 and a one year high of $20.18.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Equities analysts expect that Sony Group Co. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Daiwa America upgraded Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. TD Cowen dropped their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.66.

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.