The Manufacturers Life Insurance Company Makes New $8.89 Million Investment in Somnigroup International Inc. $SGI

The Manufacturers Life Insurance Company bought a new position in Somnigroup International Inc. (NYSE:SGI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 113,363 shares of the company’s stock, valued at approximately $8,888,000.

Other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in shares of Somnigroup International by 27.9% during the 1st quarter. Quantinno Capital Management LP now owns 154,491 shares of the company’s stock worth $11,420,000 after purchasing an additional 33,729 shares during the last quarter. Renaissance Technologies LLC grew its stake in Somnigroup International by 193.4% in the first quarter. Renaissance Technologies LLC now owns 494,100 shares of the company’s stock valued at $36,524,000 after purchasing an additional 325,700 shares during the last quarter. Argent Capital Management LLC raised its holdings in Somnigroup International by 51.1% in the first quarter. Argent Capital Management LLC now owns 91,161 shares of the company’s stock worth $6,739,000 after purchasing an additional 30,839 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Somnigroup International by 62.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,046,320 shares of the company’s stock worth $224,240,000 after purchasing an additional 1,171,485 shares in the last quarter. Finally, Emmett Investment Management LP lifted its position in shares of Somnigroup International by 26.5% during the first quarter. Emmett Investment Management LP now owns 95,825 shares of the company’s stock valued at $7,054,000 after buying an additional 20,075 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Insider Activity

In other Somnigroup International news, CEO Scott L. Thompson bought 30,000 shares of Somnigroup International stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $62.84 per share, with a total value of $1,885,200.00. Following the completion of the acquisition, the chief executive officer directly owned 4,123,634 shares in the company, valued at approximately $259,129,160.56. This trade represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SGI. Piper Sandler restated an “overweight” rating and issued a $95.00 price target (down from $102.00) on shares of Somnigroup International in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Somnigroup International in a research report on Friday, August 21st. Truist Financial lowered their target price on shares of Somnigroup International from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Zacks Research lowered shares of Somnigroup International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Morgan Stanley began coverage on Somnigroup International in a research report on Monday, July 27th. They set an “overweight” rating and a $95.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Somnigroup International currently has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Somnigroup International Stock Up 3.1%

NYSE:SGI opened at $64.40 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33. Somnigroup International Inc. has a twelve month low of $60.39 and a twelve month high of $98.56. The company has a market cap of $13.55 billion, a PE ratio of 25.76, a P/E/G ratio of 1.45 and a beta of 1.20. The company’s 50 day moving average is $70.28 and its two-hundred day moving average is $74.63.

Somnigroup International (NYSE:SGI) last posted its quarterly 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. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The company had revenue of $1.82 billion during the quarter. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Analysts anticipate that Somnigroup International Inc. will post 3.02 EPS for the current year.

Somnigroup International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a $0.17 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. Somnigroup International’s dividend payout ratio is presently 27.20%.

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.