Sony Group Co. (NYSE:SONY) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its stake in Sony Group Co. (NYSE:SONY) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,195 shares of the company’s stock after buying an additional 2,183 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Sony Group were worth $2,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Sage Rhino Capital LLC increased its holdings in shares of Sony Group by 5.1% in the 4th quarter. Sage Rhino Capital LLC now owns 4,808 shares of the company’s stock worth $455,000 after acquiring an additional 235 shares during the period. Brighton Jones LLC increased its stake in shares of Sony Group by 13.1% in the fourth quarter. Brighton Jones LLC now owns 3,742 shares of the company’s stock valued at $354,000 after purchasing an additional 434 shares during the period. Mission Wealth Management LP raised its holdings in shares of Sony Group by 5.5% during the fourth quarter. Mission Wealth Management LP now owns 8,490 shares of the company’s stock valued at $804,000 after buying an additional 439 shares during the last quarter. Penobscot Investment Management Company Inc. acquired a new position in shares of Sony Group during the fourth quarter worth approximately $218,000. Finally, Kestra Private Wealth Services LLC grew its holdings in Sony Group by 10.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,623 shares of the company’s stock worth $722,000 after buying an additional 703 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

SONY has been the topic of several recent analyst reports. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Macquarie downgraded shares of Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Oppenheimer reissued an “outperform” rating and set a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Sony Group has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Price Performance

Shares of SONY traded up $0.57 during midday trading on Thursday, reaching $83.46. The stock had a trading volume of 51,680 shares, compared to its average volume of 753,878. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. The firm’s 50 day moving average price is $85.48 and its 200-day moving average price is $88.86. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94. The company has a market capitalization of $103.01 billion, a P/E ratio of 16.00 and a beta of 0.95.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The company had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. On average, analysts forecast that Sony Group Co. will post 5.22 earnings per share for the current fiscal year.

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.