Diversified Management Inc. Decreases Stock Position in OneMain Holdings, Inc. $OMF

Key Points

• Diversified Management Inc. reduced its OneMain Holdings position by 89.4% in the second quarter, selling 29,218 shares and retaining 3,466 shares worth approximately $211,000. Institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, beating estimates of $1.26, while revenue rose 6.7% year over year to $1.62 billion. The company declared a $1.05 quarterly dividend, equivalent to a 6.5% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $68.40; OMF recently opened at $64.64.

Diversified Management Inc. cut its position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 89.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,466 shares of the financial services provider's stock after selling 29,218 shares during the quarter. Diversified Management Inc.'s holdings in OneMain were worth $211,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in OneMain during the first quarter valued at about $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of OneMain by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider's stock worth $21,634,000 after purchasing an additional 9,067 shares in the last quarter. Focus Partners Wealth raised its position in shares of OneMain by 101.8% in the first quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider's stock valued at $427,000 after purchasing an additional 4,407 shares during the period. Prudential Financial Inc. raised its position in shares of OneMain by 32.9% in the second quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider's stock valued at $541,000 after purchasing an additional 2,350 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of OneMain by 26.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider's stock valued at $1,119,000 after buying an additional 4,084 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Stock Performance

NYSE:OMF opened at $64.64 on Thursday. The firm has a market cap of $7.44 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.49 and a beta of 1.21. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The firm has a 50-day simple moving average of $60.00 and a two-hundred day simple moving average of $57.60.

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, topping 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 analysts' expectations of $1.28 billion. During the same period in the prior year, the company posted $1.45 earnings per share. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that OneMain Holdings, Inc. will post 7.12 EPS for the current year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 10th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.5%. OneMain's payout ratio is currently 63.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, July 30th. TD Cowen lifted their price target on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Evercore set a $66.00 price target on OneMain in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of OneMain in a research report on Friday, July 10th. Finally, Citizens Jmp boosted their price objective on shares of OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.40.

Insider Activity at OneMain

In other news, SVP Michael A. Hedlund sold 2,500 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president owned 10,627 shares of the company's stock, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer directly owned 96,250 shares of the company's stock, valued at $5,967,500. The trade was a 4.94% 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. Insiders sold a total of 14,348 shares of company stock valued at $911,576 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

About OneMain

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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