Azora Capital LP Decreases Holdings in OneMain Holdings, Inc. $OMF

Key Points

• Azora Capital LP has decreased its holdings in OneMain Holdings, Inc. by 6.5%, now owning 710,883 shares valued at approximately $34.7 million.
• OneMain recently reported earnings of $1.45 per share, exceeding estimates, with a quarterly revenue of $1.20 billion reflecting a year-over-year increase of 7.1%.
• The company announced a quarterly dividend of $1.04 per share, representing an annualized yield of 6.7%, with a payout ratio of 75.09%.

Azora Capital LP cut its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 710,883 shares of the financial services provider's stock after selling 49,715 shares during the quarter. OneMain accounts for approximately 2.4% of Azora Capital LP's holdings, making the stock its 13th biggest holding. Azora Capital LP owned approximately 0.60% of OneMain worth $34,748,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OMF. Nuveen LLC purchased a new position in shares of OneMain during the first quarter worth approximately $48,282,000. Fiduciary Management Inc. WI raised its stake in shares of OneMain by 21.8% during the first quarter. Fiduciary Management Inc. WI now owns 2,647,875 shares of the financial services provider's stock worth $129,428,000 after acquiring an additional 474,161 shares in the last quarter. Certuity LLC raised its stake in shares of OneMain by 86.0% during the first quarter. Certuity LLC now owns 930,012 shares of the financial services provider's stock worth $45,459,000 after acquiring an additional 430,011 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of OneMain during the fourth quarter worth approximately $15,566,000. Finally, Royal Bank of Canada raised its stake in shares of OneMain by 47.5% during the fourth quarter. Royal Bank of Canada now owns 901,176 shares of the financial services provider's stock worth $46,979,000 after acquiring an additional 290,323 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Stock Up 0.5%

Shares of NYSE OMF opened at $61.64 on Friday. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $62.02. The firm's fifty day moving average is $57.89 and its 200 day moving average is $52.66. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.48 and a beta of 1.29.

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

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's payout ratio is presently 75.09%.

Analyst Ratings Changes

Several research firms have commented on OMF. Wells Fargo & Company began coverage on shares of OneMain in a research note on Monday. They set an "equal weight" rating on the stock. Barclays lifted their price target on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, OneMain has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the transaction, the chief executive officer directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Micah R. Conrad sold 4,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total transaction of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at approximately $5,860,426.14. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,000 shares of company stock worth $3,715,340. Insiders own 0.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.