Ameriprise Financial Inc. Acquires 729,218 Shares of Sony Group Co. (NYSE:SONY)

Ameriprise Financial Inc. raised its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 386.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 917,856 shares of the company's stock after acquiring an additional 729,218 shares during the quarter. Ameriprise Financial Inc.'s holdings in Sony Group were worth $19,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SONY. Silicon Valley Capital Partners boosted its position in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock worth $25,000 after purchasing an additional 927 shares during the period. Capital Analysts LLC lifted its holdings in shares of Sony Group by 400.0% during the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock worth $25,000 after purchasing an additional 936 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Sony Group during the 4th quarter worth approximately $26,000. Fairscale Capital LLC grew its stake in Sony Group by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock worth $26,000 after purchasing an additional 992 shares during the period. Finally, Accent Capital Management LLC boosted its position in shares of Sony Group by 400.0% during the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock worth $29,000 after purchasing an additional 1,104 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SONY shares. Wolfe Research reiterated a "peer perform" rating on shares of Sony Group in a research note on Monday, April 7th. The Goldman Sachs Group initiated coverage on shares of Sony Group in a report on Tuesday, March 25th. They set a "buy" rating on the stock. StockNews.com upgraded shares of Sony Group from a "hold" rating to a "buy" rating in a research report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an "outperform" rating on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $28.00.

Sony Group Price Performance

NYSE SONY opened at $24.90 on Friday. The stock has a market capitalization of $150.59 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 9.95 and a beta of 0.97. Sony Group Co. has a 1-year low of $15.67 and a 1-year high of $26.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The business's fifty day moving average price is $24.29 and its 200-day moving average price is $22.30.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.09. The company had revenue of $17.25 billion during the quarter, compared to analysts' expectations of $2,995.71 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. On average, equities analysts predict that Sony Group Co. will post 1.23 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.