Fifth Third Bancorp Has $3.27 Million Stock Position in Sony Group Co. (NYSE:SONY)

Fifth Third Bancorp lessened its position in shares of Sony Group Co. (NYSE:SONY) by 11.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 38,460 shares of the company’s stock after selling 5,032 shares during the quarter. Fifth Third Bancorp’s holdings in Sony Group were worth $3,267,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Sony Group during the 2nd quarter worth about $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Sony Group during the 1st quarter worth approximately $29,000. Rise Advisors LLC raised its stake in shares of Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Sony Group during the fourth quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC acquired a new position in Sony Group in the second quarter valued at approximately $49,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Trading Up 2.2 %

SONY traded up $2.01 during midday trading on Wednesday, reaching $92.80. 826,622 shares of the company were exchanged, compared to its average volume of 849,428. The stock has a market capitalization of $114.54 billion, a P/E ratio of 16.99 and a beta of 0.94. Sony Group Co. has a one year low of $75.11 and a one year high of $100.88. The stock’s 50-day simple moving average is $87.04 and its 200 day simple moving average is $86.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63.

Sony Group shares are set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. As a group, analysts forecast that Sony Group Co. will post 5.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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.