Corient Private Wealth LP Purchases Shares of 32,566 OneMain Holdings, Inc. $OMF

Key Points

• Corient Private Wealth purchased 32,566 OneMain Holdings shares during the second quarter, valued at approximately $1.99 million. Institutional investors now own 85.82% of the company.
• OneMain reported quarterly earnings of $1.31 per share, exceeding estimates of $1.26, while revenue rose 6.7% year over year to $1.62 billion. The company also pays a quarterly dividend of $1.05, yielding approximately 6.6% annually.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $68.40. Shares recently opened at $63.25, while insiders have sold 14,348 shares worth about $911,576 over the past 90 days.

Corient Private Wealth LP acquired a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,566 shares of the financial services provider's stock, valued at approximately $1,986,000.

A number of other hedge funds also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its holdings in OneMain by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider's stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in OneMain during the fourth quarter valued at approximately $31,000. Atlantic Union Bankshares Corp bought a new position in shares of OneMain in the fourth quarter worth approximately $36,000. Transamerica Financial Advisors LLC increased its stake in shares of OneMain by 88.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider's stock worth $45,000 after purchasing an additional 314 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of OneMain during the 3rd quarter valued at $46,000. 85.82% of the stock is currently owned by institutional investors.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the sale, the chief operating officer directly owned 91,250 shares in the company, valued at $5,967,750. The trade was a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael A. Hedlund sold 2,500 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the sale, the senior vice president owned 10,627 shares in the company, valued at $680,128. This represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,348 shares of company stock worth $911,576. Insiders own 0.29% of the company's stock.

OneMain Price Performance

Shares of OMF opened at $63.25 on Thursday. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.22. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The business's 50 day simple moving average is $62.02 and its 200-day simple moving average is $57.64.

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

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Monday, August 10th. OneMain's dividend payout ratio (DPR) is presently 63.25%.

Analyst Upgrades and Downgrades

OMF has been the topic of a number of analyst reports. Citigroup restated a "market outperform" rating on shares of OneMain in a research note on Thursday, July 30th. 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. Truist Financial upped their price objective on OneMain from $70.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Barclays cut their target price on OneMain from $61.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of OneMain in a research note on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.40.

OneMain Company 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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