Algert Global LLC Has $9.51 Million Position in OneMain Holdings, Inc. $OMF

Key Points

• Algert Global increased its OneMain stake by 197.9% in the second quarter, holding 155,915 shares worth approximately $9.51 million. Institutional investors and hedge funds collectively own 85.82% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings, three Holds and one Sell. OneMain has a consensus rating of “Moderate Buy” and an average price target of $68.40.
• OneMain reported quarterly EPS of $1.31, exceeding estimates by $0.05, while revenue rose 6.7% year over year to $1.62 billion. The company also declared a $1.05 quarterly dividend, representing a 6.6% annualized yield.

Algert Global LLC lifted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 197.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,915 shares of the financial services provider's stock after purchasing an additional 103,580 shares during the quarter. Algert Global LLC owned 0.14% of OneMain worth $9,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Csenge Advisory Group grew its position in OneMain by 4.1% during the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider's stock worth $286,000 after acquiring an additional 167 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of OneMain by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 174 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider's stock worth $120,000 after purchasing an additional 176 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of OneMain by 1.7% during the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider's stock worth $595,000 after purchasing an additional 189 shares during the last quarter. Finally, Generali Asset Management SPA SGR increased its stake in shares of OneMain by 5.9% in the fourth quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider's stock valued at $231,000 after buying an additional 190 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of OneMain in a research report on Tuesday, July 7th. Citizens Jmp raised their price target on shares of OneMain from $68.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 30th. Barclays cut their price target on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 7th. TD Cowen boosted their price objective on shares of OneMain from $66.00 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of OneMain in a report on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned 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 $68.40.

OneMain Stock Up 0.7%

OMF stock opened at $63.33 on Wednesday. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.48 and a beta of 1.21. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The company's fifty day simple moving average is $61.46 and its 200 day simple moving average is $57.55.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The business had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts expect that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a $1.05 dividend. 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 63.25%.

Insider Buying and Selling

In other news, SVP Michael A. Hedlund sold 2,500 shares of OneMain 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 completion of the sale, the senior vice president owned 10,627 shares in the company, valued at $680,128. The trade was a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. The trade was a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,348 shares of company stock worth $911,576 over the last 90 days. Company insiders own 0.29% of the company's stock.

OneMain Company Profile

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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