Channing Capital Management LLC Has $4.81 Million Stake in OneMain Holdings, Inc. $OMF

Key Points

• Channing Capital Management LLC increased its stake in OneMain Holdings by 27.2%, owning 98,378 shares worth approximately $4.81 million at the end of the first quarter.
• OneMain's quarterly earnings report revealed an EPS of $1.45, surpassing analyst estimates, with a 7.1% year-over-year revenue increase to $1.20 billion.
• The company announced a quarterly dividend of $1.04 per share, yielding 7.2% annually, as part of a payout ratio of 75.09%.

Channing Capital Management LLC boosted its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,378 shares of the financial services provider's stock after purchasing an additional 21,066 shares during the period. Channing Capital Management LLC owned 0.08% of OneMain worth $4,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in OneMain during the 1st quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in OneMain during the 1st quarter worth approximately $42,000. Headlands Technologies LLC purchased a new position in OneMain during the 1st quarter worth approximately $46,000. GAMMA Investing LLC grew its position in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after purchasing an additional 662 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in OneMain during the 1st quarter worth approximately $54,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OMF shares. Barclays lifted their price objective on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. JMP Securities reissued a "market outperform" rating and set a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company began coverage on shares of OneMain in a research note on Monday. They set an "equal weight" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction dated 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 owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer owned 108,007 shares in the company, valued at approximately $5,639,045.47. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock worth $3,976,390. Insiders own 0.40% of the company's stock.

OneMain Price Performance

Shares of OMF stock traded up $0.85 on Tuesday, hitting $61.03. The company's stock had a trading volume of 263,834 shares, compared to its average volume of 1,089,225. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $61.12. The firm's fifty day moving average price is $57.40 and its 200-day moving average price is $52.50. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.47 and a beta of 1.29.

OneMain (NYSE:OMF - Get Free Report) last released its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion during 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%. The business's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. 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. Stockholders of record on Monday, August 4th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 6.8%. OneMain's payout ratio is presently 75.09%.

About OneMain

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.