Bank of America Corp DE Invests $204.63 Million in Somnigroup International Inc. $SGI

Key Points

• Bank of America acquired 2.61 million Somnigroup shares worth approximately $204.6 million in the second quarter, giving it a 1.24% stake. Institutional investors now own 99.86% of SGI’s outstanding stock.
• Analyst sentiment remains favorable, with eight Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $95 price target; UBS and Piper Sandler recently raised their targets to $102 and $100, respectively.
• SGI shares opened at $64.24, near the lower end of their 52-week range, after the company reported quarterly revenue of $1.82 billion and adjusted earnings of $0.58 per share. Somnigroup maintained fiscal 2026 EPS guidance of $2.85–$3.15 and pays a quarterly dividend of $0.17.

Bank of America Corp DE bought a new position in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,610,099 shares of the company's stock, valued at approximately $204,632,000. Bank of America Corp DE owned approximately 1.24% of Somnigroup International as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SGI. Man Group plc bought a new position in shares of Somnigroup International in the second quarter valued at about $7,621,000. Polar Asset Management Partners Inc. bought a new stake in shares of Somnigroup International during the second quarter valued at approximately $2,305,000. Jupiter Topco LLC acquired a new stake in shares of Somnigroup International in the second quarter valued at approximately $5,713,000. Linonia Partnership LP acquired a new stake in shares of Somnigroup International in the second quarter valued at approximately $519,372,000. Finally, Kintayl Capital LP bought a new position in Somnigroup International in the 2nd quarter worth approximately $3,341,000. 99.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SGI shares. Zacks Research raised Somnigroup International from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded shares of Somnigroup International from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Morgan Stanley assumed coverage on shares of Somnigroup International in a research report on Monday, July 27th. They set an "overweight" rating and a $95.00 price target for the company. UBS Group increased their price objective on shares of Somnigroup International from $94.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $100.00 target price (up from $95.00) on shares of Somnigroup International in a report on Thursday, September 3rd. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Somnigroup International Trading Down 1.7%

NYSE:SGI opened at $64.24 on Thursday. Somnigroup International Inc. has a fifty-two week low of $60.39 and a fifty-two week high of $98.56. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37. The stock has a market capitalization of $13.51 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.07 and a beta of 1.19. The business's 50-day simple moving average is $67.79 and its 200-day simple moving average is $72.24.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.58. The business had revenue of $1.82 billion during the quarter. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%.Somnigroup International's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Sell-side analysts expect that Somnigroup International Inc. will post 3.11 earnings per share for the current fiscal year.

Somnigroup International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 20th. Somnigroup International's dividend payout ratio is 27.20%.

Insider Activity

In related news, CEO Scott Thompson acquired 30,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $62.84 per share, with a total value of $1,885,200.00. Following the completion of the transaction, the chief executive officer directly owned 4,123,634 shares of the company's stock, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.99% of the stock is owned by corporate insiders.

About Somnigroup International

Somnigroup International Inc is a global sleep products company that designs, manufactures, distributes and sells mattresses, pillows, adjustable bases, foundations and other bedding products. The company serves consumers through a combination of wholesale, direct-to-consumer and retail channels, including company-operated and franchised retail locations.

Somnigroup's portfolio includes well-known brands such as Tempur-Pedic, Sealy, Stearns & Foster and Cocoon by Sealy. Following its combination with Mattress Firm, the company also operates one of the largest mattress specialty retail platforms in North America, offering products from its own brands as well as other manufacturers.

The company traces its roots to Tempur Sealy International, which was formed through the combination of Tempur-Pedic and Sealy.

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