GSA Capital Partners LLP Acquires New Stake in OneMain Holdings, Inc. $OMF

GSA Capital Partners LLP purchased a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,021 shares of the financial services provider’s stock, valued at approximately $794,000.

Other hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its holdings in OneMain by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. Core Wealth Advisors LLC bought a new stake in shares of OneMain in the 4th quarter valued at $31,000. Atlantic Union Bankshares Corp acquired a new stake in shares of OneMain during the fourth quarter worth $36,000. Transamerica Financial Advisors LLC increased its position in shares of OneMain by 88.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock worth $45,000 after buying an additional 314 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in OneMain during the third quarter worth $46,000. 85.82% of the stock is currently owned by institutional investors.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction on Monday, June 29th. The stock was 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 directly owned 96,250 shares of the company’s stock, valued at approximately $5,967,500. This represents a 4.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. This trade represents a 19.04% 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. In the last ninety days, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

OMF has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Truist Financial increased their price target on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Barclays cut their target price on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Finally, Citizens Jmp raised their target price on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, three have issued 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 an average target price of $68.40.

OneMain Price Performance

OMF opened at $64.81 on Wednesday. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The firm has a market capitalization of $7.46 billion, a PE ratio of 9.76, a P/E/G ratio of 0.50 and a beta of 1.21. The company’s 50-day moving average is $60.81 and its 200 day moving average is $57.61.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. As a group, analysts expect that OneMain Holdings, Inc. will post 7.12 EPS for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a dividend yield of 6.5%. OneMain’s payout ratio is presently 63.25%.

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.