The Manufacturers Life Insurance Company increased its holdings of Sony Group Co. (NYSE:SONY – Get Rating) stock by 40.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor held 13,566 shares of the company after purchasing an additional 3,920 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sony Group were worth $869,000 at the end of the most recent quarter.
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A number of other large investors also changed their positions in SONY. Clarius Group LLC increased its position in Sony Group shares by 2.5% in the second quarter. Clarius Group LLC now owns 4,920 shares of the company valued at $402,000 after acquiring 121 additional shares during the period. Lindbrook Capital LLC increased its position in Sony Group shares by 4.1% in the second quarter. Lindbrook Capital LLC now owns 3,570 shares of the company valued at $292,000 after acquiring 139 additional shares during the period. The Toronto Dominion Bank increased its position in Sony Group shares by 3.8% in the second quarter. Toronto Dominion Bank now owns 4,740 shares of the company valued at $388,000 after acquiring 175 additional shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Sony Group shares by 1.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 11,535 shares of the company valued at $943,000 after acquiring 194 additional shares during the period. Lastly, Johnson Financial Group Inc. increased its position in Sony group shares by 9.2% in the second quarter. Johnson Financial Group Inc. now owns 2,461 shares of the company valued at $201,000 after acquiring 207 additional shares during the period. 7.74% of the shares are held by institutional investors and hedge funds.
Sony group down 3.2%
SONY stock opened at $90.12 on Tuesday. The company’s 50-day simple moving average is $82.75 and its 200-day simple moving average is $78.52. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt ratio of 0.23. Sony Group Co. has a 52-week low of $61.72 and a 52-week high of $111.98. The company has a market capitalization of $111.48 billion, a P/E ratio of 16.30, a PEG ratio of 2.88 and a beta of 1.03.
Analyst upgrades and downgrades
Several stock analysts have recently released reports on SONY shares. Cowen reduced his target price on Sony Group from $144.00 to $102.00 in a Wednesday, November 2 research report. TheStreet upgraded Sony Group shares from a “c+” rating to a “b-” rating in a Monday, December 5 report. Cowen raised its price target on Sony Group shares from $102.00 to $118.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com launched coverage on Sony Group shares in a report on Wednesday, October 12. They issued a “hold” rating on the stock. Three investment analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $115.00.
About Sony Group
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Sony Group Corp. engages in the development, design, manufacture and sale of electronic equipment, instruments, appliances, game consoles and software for consumer, professional and industrial markets. It operates through the following segments: games and network services, music, images, home entertainment and sound, imaging products and solutions, mobile communications, semiconductors, financial services and others.
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