Bank of New York Mellon Corp Buys Shares of 1,049,364 OneMain Holdings, Inc. $OMF

Bank of New York Mellon Corp purchased a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,049,364 shares of the financial services provider's stock, valued at approximately $63,980,000. Bank of New York Mellon Corp owned approximately 0.91% of OneMain as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in shares of OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider's stock valued at $25,000 after buying an additional 202 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in OneMain during the 4th quarter worth about $31,000. Atlantic Union Bankshares Corp acquired a new position in OneMain during the 4th quarter worth about $36,000. Transamerica Financial Advisors LLC boosted its holdings in OneMain by 88.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 314 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in OneMain during the 3rd quarter valued at about $46,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Price Performance

OMF opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 12 month low of $45.78 and a 12 month high of $71.93. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.48 and a beta of 1.21. The business has a fifty day moving average price of $61.57 and a 200 day moving average price of $57.56.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.OneMain's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. On average, research analysts anticipate that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, August 10th. OneMain's dividend payout ratio is presently 63.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on OMF shares. TD Cowen lifted their target price on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Citigroup reissued a "market outperform" rating on shares of OneMain in a research report on Thursday, July 30th. Citizens Jmp raised their price objective on shares of OneMain from $68.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 30th. Evercore set a $66.00 price objective on shares of OneMain in a report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of OneMain in a research note on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.40.

Insider Buying and Selling

In related news, SVP Michael A. Hedlund sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the sale, the senior vice president owned 10,627 shares of the company's stock, valued at $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the transaction, the chief operating officer owned 91,250 shares of the company's stock, valued at $5,967,750. This represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,348 shares of company stock worth $911,576 over the last 90 days. Insiders own 0.29% of the company's stock.

OneMain Profile

OneMain Financial NYSE: OMF is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.

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