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

Legal & General Group Plc reduced its stake in shares of Somnigroup International Inc. (NYSE:SGI) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,532 shares of the company’s stock after selling 11,569 shares during the quarter. Legal & General Group Plc’s holdings in Somnigroup International were worth $28,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in shares of Somnigroup International in the third quarter valued at $32,000. Elyxium Wealth LLC purchased a new position in shares of Somnigroup International in the fourth quarter valued at $35,000. First Horizon Corp grew its holdings in shares of Somnigroup International by 93.3% in the fourth quarter. First Horizon Corp now owns 464 shares of the company’s stock valued at $41,000 after purchasing an additional 224 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Somnigroup International in the fourth quarter valued at $42,000. Finally, Assetmark Inc. grew its holdings in shares of Somnigroup International by 56.6% in the fourth quarter. Assetmark Inc. now owns 512 shares of the company’s stock valued at $46,000 after purchasing an additional 185 shares in the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.

Somnigroup International Stock Down 0.8%

NYSE SGI opened at $70.76 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.78 and a quick ratio of 0.38. The stock’s fifty day moving average price is $73.37. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25. Somnigroup International Inc. has a 52 week low of $60.39 and a 52 week high of $98.56.

Somnigroup International (NYSE:SGI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.80 billion during the quarter. Somnigroup International had a net margin of 6.80% and a return on equity of 19.62%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. Equities research analysts anticipate that Somnigroup International Inc. will post 3.2 EPS for the current year.

Somnigroup International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, May 21st. Somnigroup International’s payout ratio is presently 27.76%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SGI. Stephens reissued an “equal weight” rating and issued a $89.00 target price on shares of Somnigroup International in a report on Tuesday, April 14th. Truist Financial raised their target price on shares of Somnigroup International from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Bank of America cut their target price on shares of Somnigroup International from $106.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. UBS Group cut their target price on shares of Somnigroup International from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Jefferies Financial Group raised shares of Somnigroup International from a “hold” rating to a “buy” rating and cut their target price for the company from $90.00 to $88.00 in a report on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Somnigroup International currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.60.

About Somnigroup International

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.