Channing Capital Management LLC Grows Holdings 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 stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 27.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 0.08% of OneMain worth $4,809,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OMF. Nuveen LLC purchased a new position in OneMain during the first quarter worth approximately $48,282,000. Azora Capital LP purchased a new position in OneMain during the fourth quarter worth approximately $39,650,000. Certuity LLC raised its stake in 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 purchasing an additional 430,011 shares during the period. Point72 Asset Management L.P. purchased a new position in OneMain during the fourth quarter worth approximately $15,566,000. Finally, Royal Bank of Canada raised its stake in 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 purchasing an additional 290,323 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Buying and Selling at OneMain

In related news, CEO Douglas H. Shulman sold 35,000 shares of OneMain 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 sale, the chief executive officer owned 275,100 shares of the company's stock, valued at $16,360,197. The trade was a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of OneMain stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock worth $3,976,390 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OMF. JPMorgan Chase & Co. increased their price target 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. JMP Securities reaffirmed a "market outperform" rating and set a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. Wells Fargo & Company raised their target price on shares of OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Barclays raised their target price on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. One investment 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.50.

OneMain Stock Up 4.8%

Shares of OMF stock traded up $2.7790 during mid-day trading on Friday, reaching $60.1190. The company's stock had a trading volume of 1,040,382 shares, compared to its average volume of 952,800. The company's 50 day simple moving average is $57.25 and its 200-day simple moving average is $52.50. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $60.41. The firm has a market capitalization of $7.15 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.47 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, beating analysts' consensus estimates of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.02 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 6.9%. OneMain's payout ratio is 75.09%.

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.