Assetmark Inc. Acquires 448,873 Shares of Sony Group Co. (NYSE:SONY)

Assetmark Inc. grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 448.1% during the fourth quarter, Holdings Channel reports. The firm owned 549,038 shares of the company’s stock after purchasing an additional 448,873 shares during the period. Assetmark Inc.’s holdings in Sony Group were worth $11,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y.D. More Investments Ltd raised its holdings in shares of Sony Group by 400.0% during the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after purchasing an additional 28,852 shares in the last quarter. Bfsg LLC bought a new position in shares of Sony Group during the 4th quarter valued at $6,125,000. Fifth Third Bancorp raised its holdings in shares of Sony Group by 311.3% during the 4th quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after purchasing an additional 119,362 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Sony Group by 430.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after purchasing an additional 32,725 shares in the last quarter. Finally, One Wealth Advisors LLC raised its holdings in shares of Sony Group by 400.9% during the 4th quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock valued at $729,000 after purchasing an additional 27,593 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

NYSE:SONY opened at $24.45 on Friday. The firm’s 50-day moving average is $22.39 and its 200-day moving average is $17.19. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The company has a market cap of $147.84 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Equities research analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SONY shares. Sanford C. Bernstein started coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. Oppenheimer reiterated an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. 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 company’s stock. According to data from MarketBeat.com, Sony Group currently has an average rating of “Buy” and an average target price of $28.00.

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.