Argent Capital Management LLC Increases Stake in OneMain Holdings, Inc. $OMF

Key Points

• Argent Capital Management LLC increased its stake in OneMain Holdings, Inc. by 2.7%, owning approximately 824,567 shares valued at $47 million, making it the 27th largest position in its portfolio.
• OneMain recently reported earnings of $1.45 per share, surpassing analyst expectations, with a net margin of 12.63% and revenue up 7.1% from the previous year.
• The company declared a quarterly dividend of $1.04 per share, representing a dividend yield of 6.9%, with a payout ratio of 75.09%.

Argent Capital Management LLC lifted its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 824,567 shares of the financial services provider's stock after acquiring an additional 21,803 shares during the period. OneMain makes up approximately 1.3% of Argent Capital Management LLC's portfolio, making the stock its 27th largest position. Argent Capital Management LLC owned approximately 0.69% of OneMain worth $47,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMF. Central Pacific Bank Trust Division raised its position in OneMain by 2.7% in the 2nd quarter. Central Pacific Bank Trust Division now owns 8,079 shares of the financial services provider's stock worth $461,000 after buying an additional 210 shares during the last quarter. Essex Financial Services Inc. grew its position in OneMain by 6.7% during the first quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider's stock valued at $224,000 after buying an additional 288 shares during the period. Deutsche Bank AG increased its holdings in OneMain by 0.8% during the first quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider's stock valued at $1,788,000 after buying an additional 290 shares during the last quarter. Allworth Financial LP increased its stake in shares of OneMain by 21.7% in the 1st quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider's stock worth $96,000 after purchasing an additional 352 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of OneMain by 2.2% in the first quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider's stock worth $805,000 after buying an additional 357 shares during the period. 85.82% of the stock is owned by institutional investors.

OneMain Stock Performance

Shares of NYSE:OMF opened at $60.45 on Tuesday. The firm's 50 day simple moving average is $59.11 and its 200-day simple moving average is $53.54. The firm has a market cap of $7.19 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24.

OneMain (NYSE:OMF - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. OneMain's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. Equities research analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio is 75.09%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% 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 3,000 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer directly owned 98,007 shares of the company's stock, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,000 shares of company stock worth $2,664,140. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of OneMain in a research note on Monday, August 25th. They issued an "equal weight" rating for the company. JPMorgan Chase & Co. increased their price target on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays upped their price objective on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.50.

OneMain Profile

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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