Diversified Management Inc. Acquires 37,458 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Diversified Management Inc. increased its OneMain Holdings stake by 1,080.7% in the third quarter, acquiring 37,458 additional shares for a total holding of 40,924 shares valued at approximately $2.27 million.
• Institutional investors own 85.82% of OneMain, while analyst sentiment remains positive with a consensus “Moderate Buy” rating and an average price target of $67.55.
• OneMain reported quarterly EPS of $1.31, ahead of the $1.26 consensus estimate, and maintained a quarterly dividend of $1.05, representing a 7.4% annualized yield.

Diversified Management Inc. grew its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 1,080.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,924 shares of the financial services provider's stock after buying an additional 37,458 shares during the period. Diversified Management Inc.'s holdings in OneMain were worth $2,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OMF. New York State Teachers Retirement System increased its position in OneMain by 1.7% during the 1st quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider's stock worth $595,000 after purchasing an additional 189 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of OneMain by 32.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider's stock worth $62,000 after buying an additional 246 shares in the last quarter. Ariadne Wealth Management LP grew its holdings in shares of OneMain by 7.3% during the first quarter. Ariadne Wealth Management LP now owns 3,763 shares of the financial services provider's stock worth $201,000 after buying an additional 255 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of OneMain by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 59,206 shares of the financial services provider's stock valued at $3,609,000 after buying an additional 280 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in shares of OneMain by 0.9% during the first quarter. Aviance Capital Partners LLC now owns 33,293 shares of the financial services provider's stock valued at $1,781,000 after buying an additional 287 shares during the period. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on OMF. Citigroup restated a "market outperform" rating on shares of OneMain in a research report on Thursday, July 30th. Citizens Jmp increased their price target on OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Weiss Ratings restated a "buy (b-)" rating on shares of OneMain in a report on Friday, October 2nd. TD Cowen lowered their price objective on OneMain from $68.00 to $66.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Truist Financial upped their target price on OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.55.

OneMain Stock Performance

Shares of OMF stock opened at $56.42 on Friday. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93. The company has a 50 day moving average price of $61.59 and a 200 day moving average price of $58.59.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the company earned $1.45 EPS. The business's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that OneMain Holdings, Inc. will post 6.75 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 7.4%. OneMain's dividend payout ratio (DPR) is 63.25%.

Insider Buying and Selling

In other news, COO Micah Conrad sold 5,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares of the company's stock, valued at approximately $5,967,750. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Hedlund sold 2,500 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the transaction, the senior vice president owned 10,627 shares of the company's stock, valued at $680,128. This trade represents a 19.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company's stock.

OneMain Company Profile

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company focused on providing personal loans to customers in the United States. Its products are primarily unsecured and secured installment loans designed for purposes such as debt consolidation, home improvements, unexpected expenses and major purchases.

OneMain also offers optional insurance products and other ancillary services related to its lending activities. The company serves customers through a combination of local branches, online platforms and digital application tools, supporting borrowers who may not be served by traditional banks.

OneMain's history traces back to consumer-finance operations established in the early 20th century.

Want to see what other hedge funds are holding OMF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OneMain Holdings, Inc. (NYSE:OMF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.