Vanguard Group Inc. Has $675.85 Million Stock Position in OneMain Holdings, Inc. $OMF

Vanguard Group Inc. raised its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,970,406 shares of the financial services provider’s stock after buying an additional 249,785 shares during the period. Vanguard Group Inc. owned approximately 0.10% of OneMain worth $675,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Root Financial Partners LLC acquired a new position in OneMain during the third quarter worth $26,000. Activest Wealth Management increased its stake in OneMain by 1,102.1% in the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock valued at $33,000 after buying an additional 529 shares during the last quarter. Bayforest Capital Ltd increased its stake in OneMain by 591.8% in the 3rd quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock valued at $38,000 after buying an additional 574 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in OneMain by 57.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock worth $40,000 after buying an additional 262 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in OneMain by 79.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after buying an additional 363 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Down 5.4%

OMF opened at $54.12 on Tuesday. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 0.33 and a beta of 1.33. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $71.93. The business has a 50 day moving average of $64.87 and a 200-day moving average of $61.38.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.16 EPS. As a group, analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Tuesday, February 17th were paid a $1.05 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $4.20 dividend on an annualized basis and a yield of 7.8%. OneMain’s dividend payout ratio is 63.93%.

Wall Street Analyst Weigh In

OMF has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Truist Financial decreased their price target on OneMain from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Barclays set a $71.00 price target on OneMain in a research report on Friday, February 6th. Citizens Jmp set a $68.00 price objective on OneMain in a report on Monday, November 24th. Finally, Royal Bank Of Canada raised their target price on shares of OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Eight investment 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.11.

Insider Activity

In other news, CEO Douglas H. Shulman sold 57,500 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the transaction, the chief executive officer owned 174,100 shares of the company’s stock, valued at approximately $11,910,181. This represents a 24.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Hedlund sold 652 shares of OneMain stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total value of $40,424.00. Following the sale, the senior vice president directly owned 15,179 shares of the company’s stock, valued at approximately $941,098. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by corporate insiders.

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.