Pallas Capital Advisors LLC bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,143 shares of the financial services provider's stock, valued at approximately $350,000.
Several other institutional investors and hedge funds have also recently modified their holdings of OMF. Ameriprise Financial Inc. boosted its position in shares of OneMain by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 87,527 shares of the financial services provider's stock valued at $4,563,000 after acquiring an additional 3,631 shares during the last quarter. State of Wyoming lifted its position in shares of OneMain by 444.2% during the fourth quarter. State of Wyoming now owns 3,510 shares of the financial services provider's stock worth $183,000 after purchasing an additional 2,865 shares in the last quarter. Tidal Investments LLC lifted its position in shares of OneMain by 15.6% during the fourth quarter. Tidal Investments LLC now owns 16,756 shares of the financial services provider's stock worth $873,000 after purchasing an additional 2,259 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of OneMain by 93.8% during the fourth quarter. Two Sigma Investments LP now owns 88,736 shares of the financial services provider's stock worth $4,626,000 after buying an additional 42,947 shares during the period. Finally, Two Sigma Advisers LP increased its stake in OneMain by 180.9% in the fourth quarter. Two Sigma Advisers LP now owns 55,900 shares of the financial services provider's stock valued at $2,914,000 after purchasing an additional 36,000 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.
OneMain Stock Down 1.3%
Shares of OneMain stock opened at $60.80 on Monday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $63.24. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. The business has a fifty day simple moving average of $59.07 and a 200-day simple moving average of $53.46.
OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.OneMain's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.
OneMain Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 6.8%. OneMain's dividend payout ratio (DPR) is 75.09%.
Insider Buying and Selling
In related news, CEO Douglas H. Shulman sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the transaction, the chief operating officer owned 98,007 shares of the company's stock, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $2,664,140 in the last quarter. Corporate insiders own 0.40% of the company's stock.
Wall Street Analyst Weigh In
OMF has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on OneMain in a report on Monday, August 25th. They set an "equal weight" rating for the company. Barclays lifted their price objective on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, OneMain currently has an average rating of "Moderate Buy" and an average target price of $61.50.
Read Our Latest Stock Report on OMF
OneMain Profile
(
Free Report)
OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.
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