Allspring Global Investments Holdings LLC Has $5.97 Million Position in OneMain Holdings, Inc. (NYSE:OMF)

Allspring Global Investments Holdings LLC increased its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 56.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,577 shares of the financial services provider's stock after purchasing an additional 43,915 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of OneMain worth $5,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OMF. Wellington Management Group LLP increased its holdings in shares of OneMain by 395.9% in the fourth quarter. Wellington Management Group LLP now owns 2,249,762 shares of the financial services provider's stock valued at $117,280,000 after buying an additional 1,796,054 shares in the last quarter. Norges Bank purchased a new position in shares of OneMain during the 4th quarter valued at $72,936,000. FMR LLC grew its holdings in shares of OneMain by 14.3% during the 4th quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock valued at $564,863,000 after acquiring an additional 1,352,604 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in OneMain by 54.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,885,961 shares of the financial services provider's stock worth $150,445,000 after purchasing an additional 1,013,312 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of OneMain during the fourth quarter valued at about $46,195,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on OMF shares. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on shares of OneMain from $57.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Barclays upped their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday. JMP Securities reissued a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a research report on Wednesday, April 30th. Finally, Evercore ISI assumed coverage on shares of OneMain in a research report on Tuesday, March 25th. They issued an "in-line" rating and a $58.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.40.

Insiders Place Their Bets

In other news, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer directly owned 368,925 shares of the company's stock, valued at $18,446,250. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares in the company, valued at approximately $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,000 shares of company stock worth $5,082,190. Insiders own 0.40% of the company's stock.

OneMain Trading Up 0.3%

Shares of OneMain stock traded up $0.17 during midday trading on Wednesday, reaching $59.08. The company had a trading volume of 2,018,876 shares, compared to its average volume of 1,062,094. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The stock has a fifty day simple moving average of $53.09 and a 200 day simple moving average of $51.77. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $60.12.

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

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 7.04%. OneMain's dividend payout ratio is 87.95%.

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.