California State Teachers Retirement System Increases Holdings in OneMain Holdings, Inc. $OMF

Key Points

• California State Teachers Retirement System increased its OneMain Holdings stake by 25.3% in the first quarter to 140,981 shares valued at approximately $7.54 million. Institutional investors and hedge funds collectively own 85.82% of OMF.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $68.40; recent targets range from $65 to $73.
• OneMain reported quarterly EPS of $1.31, beating estimates of $1.26, while revenue rose 6.7% year over year to $1.09 billion. The company also declared a quarterly dividend of $1.05, equivalent to a 6.4% annualized yield.

California State Teachers Retirement System increased its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 25.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,981 shares of the financial services provider's stock after buying an additional 28,424 shares during the quarter. California State Teachers Retirement System owned about 0.12% of OneMain worth $7,541,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in OMF. The Manufacturers Life Insurance Company grew its stake in shares of OneMain by 73.8% during the first quarter. The Manufacturers Life Insurance Company now owns 37,962 shares of the financial services provider's stock valued at $2,031,000 after acquiring an additional 16,117 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of OneMain by 46.9% in the 1st quarter. Quantinno Capital Management LP now owns 271,816 shares of the financial services provider's stock valued at $14,539,000 after purchasing an additional 86,782 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of OneMain by 114.2% during the first quarter. Lazard Asset Management LLC now owns 68,360 shares of the financial services provider's stock worth $3,657,000 after purchasing an additional 36,452 shares during the last quarter. Weiss Asset Management LP acquired a new position in OneMain in the first quarter worth about $648,000. Finally, Entropy Technologies LP grew its stake in OneMain by 4.2% in the first quarter. Entropy Technologies LP now owns 14,934 shares of the financial services provider's stock worth $799,000 after purchasing an additional 599 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on OMF shares. TD Cowen upped their price objective on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Evercore set a $66.00 price target on OneMain in a research report on Monday, July 6th. Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a research report on Tuesday, July 7th. Royal Bank Of Canada boosted their price objective on OneMain from $70.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company reduced their target price on shares of OneMain from $70.00 to $65.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.40.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer directly owned 96,250 shares of the company's stock, valued at approximately $5,967,500. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president directly owned 10,627 shares of the company's stock, valued at approximately $680,128. This represents 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. Insiders have sold 9,348 shares of company stock worth $584,576 in the last 90 days. 0.29% of the stock is owned by company insiders.

OneMain Stock Up 1.1%

Shares of OMF stock opened at $65.39 on Wednesday. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The stock has a 50-day simple moving average of $58.79 and a 200 day simple moving average of $57.62. The stock has a market capitalization of $7.52 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.49 and a beta of 1.21.

OneMain (NYSE:OMF - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. On average, sell-side analysts anticipate that OneMain Holdings, Inc. will post 7.12 earnings per share for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 10th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.4%. OneMain's dividend payout ratio (DPR) is currently 63.25%.

About OneMain

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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