SouthState Corp Acquires 551,359 Shares of Sony Group Co. (NYSE:SONY)

SouthState Corp raised its holdings in shares of Sony Group Co. (NYSE:SONY) by 385.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 694,261 shares of the company’s stock after purchasing an additional 551,359 shares during the period. Sony Group accounts for 1.0% of SouthState Corp’s portfolio, making the stock its 29th largest position. SouthState Corp’s holdings in Sony Group were worth $14,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SONY. Mizuho Markets Americas LLC bought a new position in shares of Sony Group during the third quarter valued at approximately $324,000. Natixis Advisors LLC increased its stake in shares of Sony Group by 28.3% during the third quarter. Natixis Advisors LLC now owns 353,041 shares of the company’s stock valued at $34,093,000 after purchasing an additional 77,870 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Sony Group during the third quarter valued at approximately $244,000. Thrivent Financial for Lutherans increased its stake in shares of Sony Group by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company’s stock valued at $61,579,000 after purchasing an additional 2,974 shares in the last quarter. Finally, Aljian Capital Management LLC bought a new position in shares of Sony Group during the third quarter valued at approximately $302,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Trading Up 3.0 %

Shares of SONY stock opened at $24.11 on Monday. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $22.67 and its 200 day moving average is $18.22. The stock has a market capitalization of $145.78 billion, a P/E ratio of 19.57, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Research analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SONY shares. Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $28.00.

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.