Allspring Global Investments Holdings LLC Purchases 43,915 Shares of OneMain Holdings, Inc. (NYSE:OMF)

Allspring Global Investments Holdings LLC raised its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 121,577 shares of the financial services provider's stock after acquiring an additional 43,915 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of OneMain worth $5,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new stake in shares of OneMain during the first quarter worth $27,000. GAMMA Investing LLC boosted its stake in OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after acquiring an additional 662 shares in the last quarter. Golden State Wealth Management LLC bought a new position in OneMain during the first quarter worth $54,000. Fourth Dimension Wealth LLC bought a new position in OneMain during the fourth quarter worth $57,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in OneMain during the fourth quarter worth $82,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Up 0.4%

NYSE OMF traded up $0.25 during trading hours on Friday, reaching $59.50. 1,175,448 shares of the company were exchanged, compared to its average volume of 1,055,799. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.08. The business's 50 day simple moving average is $52.44 and its 200-day simple moving average is $51.61. The stock has a market capitalization of $7.08 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.51 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.17. OneMain had a net margin of 11.06% and a return on equity of 19.30%. The business had revenue of $188.00 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $1.45 earnings per share. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 annualized dividend and a dividend yield of 6.99%. OneMain's payout ratio is 87.95%.

Insider Activity

In other news, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer owned 368,925 shares in the company, valued at $18,446,250. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the transaction, the chief operating officer owned 108,007 shares of the company's stock, valued at $5,639,045.47. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,000 shares of company stock valued at $4,902,190 in the last quarter. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Northland Capmk raised shares of OneMain from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Barclays set a $56.00 price objective on shares of OneMain in a research note on Friday, March 14th. Evercore ISI began coverage on shares of OneMain in a research note on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $58.00 to $46.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.40.

About OneMain

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.