Assenagon Asset Management S.A. Buys 196,814 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Assenagon Asset Management acquired 196,814 OneMain shares worth approximately $10.9 million, while institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, surpassing estimates, and declared a $1.05 quarterly dividend—an annualized yield of approximately 7.5%.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $67.09, despite mixed recent rating changes.

Assenagon Asset Management S.A. bought a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 196,814 shares of the financial services provider's stock, valued at approximately $10,902,000. Assenagon Asset Management S.A. owned 0.17% of OneMain as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in OMF. Curated Wealth Partners LLC bought a new position in OneMain during the 3rd quarter worth approximately $243,000. Triumph Capital Management increased its stake in OneMain by 2.3% in the 3rd quarter. Triumph Capital Management now owns 24,812 shares of the financial services provider's stock worth $1,374,000 after purchasing an additional 546 shares during the period. Seelaus Asset Management LLC lifted its position in OneMain by 2.0% in the third quarter. Seelaus Asset Management LLC now owns 26,121 shares of the financial services provider's stock valued at $1,447,000 after purchasing an additional 500 shares during the last quarter. Krilogy Financial LLC lifted its position in OneMain by 7.3% in the third quarter. Krilogy Financial LLC now owns 19,479 shares of the financial services provider's stock valued at $1,090,000 after purchasing an additional 1,333 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its position in OneMain by 33.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 10,204 shares of the financial services provider's stock valued at $576,000 after purchasing an additional 2,556 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Stock Performance

Shares of OMF stock opened at $55.82 on Tuesday. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93. The company's 50-day moving average is $60.37 and its 200 day moving average is $58.73. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.63 and a beta of 1.24.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $1.45 EPS. As a group, research analysts predict that OneMain Holdings, Inc. will post 6.73 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were issued a dividend of $1.05 per share. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.5%. OneMain's dividend payout ratio is presently 63.25%.

Insider Buying and Selling

In related news, COO Micah Conrad sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the sale, the chief operating officer owned 91,250 shares of the company's stock, valued at $5,967,750. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Hedlund sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

OMF has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their price objective on OneMain from $73.00 to $71.00 and set an "outperform" rating for the company in a research note on Friday. Weiss Ratings downgraded shares of OneMain from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of OneMain in a research note on Friday, July 10th. Truist Financial upped their price target on shares of OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Citigroup reissued a "market outperform" rating on shares of OneMain in a research report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, OneMain has an average rating of "Moderate Buy" and a consensus price target of $67.09.

OneMain Profile

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain's principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.

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