Challenger Wealth Management Makes New Investment in Sony Group Co. (NYSE:SONY)

Challenger Wealth Management bought a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,500 shares of the company's stock, valued at approximately $286,000.

A number of other hedge funds also recently modified their holdings of SONY. Primecap Management Co. CA raised its stake in Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares in the last quarter. Aristotle Capital Management LLC boosted its position in Sony Group by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock worth $1,116,653,000 after buying an additional 42,083,842 shares during the period. Fisher Asset Management LLC boosted its position in Sony Group by 425.9% during the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock worth $961,089,000 after buying an additional 36,783,737 shares during the period. Bank of America Corp DE lifted its position in shares of Sony Group by 377.7% in the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock worth $503,713,000 after purchasing an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI lifted its position in shares of Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock worth $218,382,000 after purchasing an additional 8,157,776 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research reiterated a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Wall Street Zen lowered shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer restated 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. Finally, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a "buy" rating for the company. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Group Price Performance

SONY traded down $0.23 on Wednesday, reaching $26.33. The company had a trading volume of 6,130,440 shares, compared to its average volume of 4,327,122. The business has a 50 day simple moving average of $24.49 and a 200 day simple moving average of $22.74. The company has a market cap of $159.23 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 9.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52-week low of $15.67 and a 52-week high of $26.82.

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.