Principal Securities Inc. Invests $1.15 Million in Sony Group Co. (NYSE:SONY)

Principal Securities Inc. bought a new position in Sony Group Co. (NYSE:SONY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,178 shares of the company's stock, valued at approximately $1,153,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company's stock valued at $602,150,000 after purchasing an additional 342,025 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Sony Group by 39.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company's stock worth $87,952,000 after acquiring an additional 299,300 shares during the period. Natixis Advisors L.P. grew its stake in Sony Group by 77.6% during the 4th quarter. Natixis Advisors L.P. now owns 315,680 shares of the company's stock valued at $29,891,000 after acquiring an additional 137,963 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of Sony Group by 30.0% in the 3rd quarter. Alberta Investment Management Corp now owns 260,000 shares of the company's stock valued at $21,427,000 after purchasing an additional 60,000 shares during the period. Finally, Rovida Advisors Inc. purchased a new stake in shares of Sony Group in the third quarter worth approximately $4,433,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Down 2.7 %

NYSE:SONY traded down $2.10 during trading hours on Friday, reaching $75.37. The company's stock had a trading volume of 2,115,147 shares, compared to its average volume of 750,999. Sony Group Co. has a one year low of $75.11 and a one year high of $100.94. The business's 50-day moving average is $84.58 and its 200-day moving average is $88.70. 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 company has a market cap of $93.02 billion, a price-to-earnings ratio of 14.55 and a beta of 0.95.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 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 the consensus estimate of $24.31 billion. Equities research analysts predict that Sony Group Co. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SONY. Macquarie lowered shares of Sony Group from an "outperform" rating to a "neutral" rating in a research note on Thursday, February 15th. StockNews.com lowered Sony Group from a "buy" rating to a "hold" rating in a report on Monday, April 8th. Finally, Oppenheimer restated an "outperform" rating and issued a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $108.00.

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.