702,369 Shares in OneMain Holdings, Inc. $OMF Bought by Patient Capital Management LLC

Key Points

• Patient Capital Management acquired 702,369 OneMain shares worth approximately $42.8 million, giving it a 0.61% stake; institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, exceeding estimates by $0.05, while revenue rose 6.7% year over year to $1.62 billion. Analysts expect full-year EPS of $7.11.
• The company’s $1.05 quarterly dividend implies an annualized payout of $4.20 and a 6.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $68.40, although insiders sold shares in recent months.

Patient Capital Management LLC bought a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 702,369 shares of the financial services provider's stock, valued at approximately $42,824,000. OneMain accounts for approximately 1.4% of Patient Capital Management LLC's holdings, making the stock its 28th largest position. Patient Capital Management LLC owned 0.61% of OneMain as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OMF. BlackRock Inc. bought a new position in shares of OneMain during the second quarter worth about $633,893,000. Dimensional Fund Advisors LP lifted its position in OneMain by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider's stock valued at $232,258,000 after purchasing an additional 308,370 shares during the last quarter. Janus Henderson Group PLC lifted its position in OneMain by 7.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider's stock valued at $146,030,000 after purchasing an additional 195,591 shares during the last quarter. Geode Capital Management LLC boosted its stake in OneMain by 0.7% during 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 purchasing an additional 15,941 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in OneMain by 17.6% during 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 purchasing an additional 345,269 shares during the period. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Up 0.1%

Shares of OMF opened at $63.26 on Monday. The firm has a market capitalization of $7.28 billion, a PE ratio of 9.53, a P/E/G ratio of 0.48 and a beta of 1.21. The firm has a 50-day moving average price of $61.24 and a 200 day moving average price of $57.56. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. OneMain's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. On average, equities analysts expect that OneMain Holdings, Inc. will post 7.11 EPS for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were issued 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 yield of 6.6%. OneMain's payout ratio is presently 63.25%.

Insider Activity at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the sale, the chief operating officer directly owned 91,250 shares in the company, valued at $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael A. Hedlund sold 2,500 shares of the 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 directly owned 10,627 shares of the company's stock, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OMF. Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a research note on Tuesday, July 7th. Royal Bank Of Canada boosted their price objective on OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Citigroup reissued a "market outperform" rating on shares of OneMain in a report on Thursday, July 30th. Evercore set a $66.00 target price on OneMain in a research report on Monday, July 6th. Finally, TD Cowen lifted their target price on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.40.

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.

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