Dimensional Fund Advisors LP Acquires 256,308 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Dimensional Fund Advisors LP increased its stake in OneMain Holdings, Inc. by 7.4%, owning 3,736,070 shares valued at approximately $182.61 million.
• Barclays and JPMorgan Chase & Co. raised their target prices for OneMain shares to $56.00 and $63.00 respectively, reflecting positive analyst sentiment.
• OneMain recently announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 7.1%.

Dimensional Fund Advisors LP boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,736,070 shares of the financial services provider's stock after buying an additional 256,308 shares during the period. Dimensional Fund Advisors LP owned approximately 3.14% of OneMain worth $182,610,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of OneMain by 56.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after acquiring an additional 43,915 shares in the last quarter. GAMMA Investing LLC boosted its stake in OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock worth $1,251,000 after purchasing an additional 1,441 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of OneMain in the first quarter worth $853,000. Finally, SG Americas Securities LLC lifted its holdings in shares of OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock valued at $532,000 after purchasing an additional 6,875 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This trade represents a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,000 shares of company stock worth $3,976,390. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on OMF. Barclays upped 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. JPMorgan Chase & Co. increased their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company initiated coverage on OneMain in a report on Monday. They set an "equal weight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.50.

OneMain Trading Up 0.0%

OneMain stock traded up $0.02 during trading on Monday, reaching $60.19. The company had a trading volume of 837,103 shares, compared to its average volume of 908,272. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.47 and a beta of 1.29. The firm's 50-day simple moving average is $57.40 and its 200 day simple moving average is $52.50. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $60.75.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $1.02 EPS. The company's revenue was up 7.1% on a year-over-year basis. On average, analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

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