UMB Bank n.a. Lowers Position in Sony Group Co. (NYSE:SONY)

UMB Bank n.a. lessened its position in Sony Group Co. (NYSE:SONY) by 67.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,192 shares of the company’s stock after selling 2,511 shares during the quarter. UMB Bank n.a.’s holdings in Sony Group were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Sony Group in the 2nd quarter valued at approximately $26,000. Sunbelt Securities Inc. purchased a new position in Sony Group during the first quarter valued at $29,000. Rise Advisors LLC raised its stake in Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after buying an additional 254 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in Sony Group during the fourth quarter valued at $34,000. Finally, Ridgewood Investments LLC purchased a new position in Sony Group during the second quarter valued at $41,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Up 0.8 %

SONY stock opened at $97.54 on Friday. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The business has a fifty day moving average price of $89.13 and a 200-day moving average price of $86.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The stock has a market capitalization of $120.39 billion, a P/E ratio of 17.93 and a beta of 0.94.

Sony Group shares are scheduled to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

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

Analysts Set New Price Targets

Separately, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.