OneMain Holdings, Inc. $OMF Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 37.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 104,527 shares of the financial services provider’s stock after purchasing an additional 28,536 shares during the period. Illinois Municipal Retirement Fund’s holdings in OneMain were worth $5,591,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of OneMain by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,033,871 shares of the financial services provider’s stock valued at $272,490,000 after purchasing an additional 53,840 shares during the period. Janus Henderson Group PLC grew its position in OneMain by 70.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider’s stock valued at $171,210,000 after buying an additional 1,047,263 shares during the last quarter. Geode Capital Management LLC grew its position in OneMain by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider’s stock valued at $164,017,000 after buying an additional 15,941 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in OneMain by 17.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,310,513 shares of the financial services provider’s stock valued at $156,075,000 after buying an additional 345,269 shares during the period. Finally, State Street Corp increased its stake in OneMain by 2.3% in the 4th quarter. State Street Corp now owns 2,305,246 shares of the financial services provider’s stock valued at $155,719,000 after buying an additional 51,592 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BTIG Research reissued a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. Evercore set a $66.00 price objective on OneMain in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Wells Fargo & Company reduced their price target on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Finally, Truist Financial reduced their price target on OneMain from $73.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and a consensus price target of $67.80.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the sale, the chief operating officer owned 96,250 shares of the company’s stock, valued at $5,967,500. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $114,576.00. Following the completion of the sale, the senior vice president owned 13,127 shares of the company’s stock, valued at approximately $813,874. This represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.29% of the company’s stock.

OneMain Price Performance

OMF stock opened at $60.30 on Friday. The company’s 50 day simple moving average is $56.79 and its 200-day simple moving average is $58.28. OneMain Holdings, Inc. has a 12 month low of $45.78 and a 12 month high of $71.93. The firm has a market capitalization of $6.97 billion, a PE ratio of 8.97, a P/E/G ratio of 0.46 and a beta of 1.22.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the business earned $1.72 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that OneMain Holdings, Inc. will post 7.19 earnings per share for the current year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 annualized dividend and a dividend yield of 7.0%. OneMain’s payout ratio is currently 62.50%.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.