Legal & General Group Plc Buys New Stake in Somnigroup International Inc. $SGI

Key Points

• Legal & General Group acquired 272,083 shares of Somnigroup International worth approximately $21.3 million, giving it a 0.13% stake. Institutional investors collectively own 99.86% of the company.
• CEO Scott L. Thompson purchased 30,000 shares at an average price of $62.84, increasing his direct ownership to more than 4.1 million shares.
• Somnigroup matched quarterly EPS estimates at $0.58, while revenue fell 3% year over year to $1.82 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $94.50, despite some recent rating and target-price cuts.

Legal & General Group Plc purchased a new stake in Somnigroup International Inc. (NYSE:SGI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 272,083 shares of the company's stock, valued at approximately $21,331,000. Legal & General Group Plc owned approximately 0.13% of Somnigroup International at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Core Wealth Advisors LLC purchased a new position in shares of Somnigroup International in the 4th quarter valued at about $30,000. Allworth Financial LP purchased a new stake in Somnigroup International during the second quarter worth approximately $31,000. Elyxium Wealth LLC acquired a new position in Somnigroup International in the fourth quarter valued at approximately $35,000. Danske Bank A S acquired a new position in Somnigroup International in the second quarter valued at approximately $39,000. Finally, Hilton Head Capital Partners LLC purchased a new position in Somnigroup International in the fourth quarter valued at approximately $42,000. 99.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Somnigroup International

In related news, CEO Scott L. Thompson acquired 30,000 shares of Somnigroup International stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the purchase, the chief executive officer directly owned 4,123,634 shares in the company, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.99% of the stock is owned by company insiders.

Somnigroup International Stock Up 3.1%

SGI stock opened at $64.40 on Friday. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 1.45 and a beta of 1.20. The company has a fifty day moving average price of $70.28 and a 200 day moving average price of $74.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37. Somnigroup International Inc. has a 12 month low of $60.39 and a 12 month high of $98.56.

Somnigroup International (NYSE:SGI - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $1.82 billion for the quarter. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business 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 3.02 earnings per share for the current year.

Somnigroup International Dividend Announcement

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

Analysts Set New Price Targets

SGI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Somnigroup International from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 target price (down from $102.00) on shares of Somnigroup International in a research report on Friday, August 7th. UBS Group cut their price target on shares of Somnigroup International from $105.00 to $94.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Morgan Stanley assumed coverage on shares of Somnigroup International in a research report on Monday, July 27th. They issued an "overweight" rating and a $95.00 price target for the company. Finally, Zacks Research downgraded shares of Somnigroup International from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Somnigroup International presently has an average rating of "Moderate Buy" and a consensus target price of $94.50.

Somnigroup International Company Profile

Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.

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