Envestnet Portfolio Solutions Inc. Increases Holdings in Sony Group Co. (NYSE:SONY)

Envestnet Portfolio Solutions Inc. lifted its position in Sony Group Co. (NYSE:SONY) by 394.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,528 shares of the company’s stock after buying an additional 132,061 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Sony Group were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Silicon Valley Capital Partners increased its holdings in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock valued at $25,000 after buying an additional 927 shares during the last quarter. General Partner Inc. lifted its position in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Sony Group during the fourth quarter valued at about $26,000. Fairscale Capital LLC increased its position in Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after buying an additional 992 shares in the last quarter. Finally, Hilltop National Bank raised its stake in shares of Sony Group by 346.3% in the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock worth $32,000 after buying an additional 1,174 shares during the period. Institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SONY shares. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $28.00.

Sony Group Stock Up 1.8 %

Shares of SONY opened at $24.96 on Thursday. The business’s 50 day moving average is $22.90 and its 200 day moving average is $18.55. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64. The company has a market capitalization of $150.92 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 firm 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 fiscal year.

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.