Empowered Funds LLC Decreases Holdings in OneMain Holdings, Inc. $OMF

Key Points

• Empowered Funds LLC cut its OneMain Holdings stake by 82.8% in the second quarter, selling 42,698 shares and retaining 8,854 shares worth approximately $540,000. Institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, exceeding estimates of $1.26, while revenue rose 6.7% year over year to $1.62 billion. The company also maintains a quarterly dividend of $1.05, equivalent to a 6.5% annualized yield.
• Analysts maintain a generally favorable view, with eight Buy ratings, three Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $68.40.

Empowered Funds LLC decreased its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 82.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,854 shares of the financial services provider's stock after selling 42,698 shares during the quarter. Empowered Funds LLC's holdings in OneMain were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in OneMain in the 2nd quarter valued at about $633,893,000. Jupiter Topco LLC purchased a new stake in OneMain during the 2nd quarter worth approximately $166,060,000. Norges Bank acquired a new position in shares of OneMain during the fourth quarter valued at approximately $100,312,000. Bank of New York Mellon Corp acquired a new position in shares of OneMain during the second quarter valued at approximately $63,980,000. Finally, Janus Henderson Group PLC lifted its position in shares of OneMain by 70.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider's stock valued at $171,210,000 after acquiring an additional 1,047,263 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares in the company, valued at approximately $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value 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. The trade was a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,348 shares of company stock valued at $911,576 in the last 90 days. Insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on OMF shares. Royal Bank Of Canada boosted their price target on OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. TD Cowen raised their price objective on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Truist Financial lifted their target price on shares of OneMain from $70.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Citigroup reaffirmed a "market outperform" rating on shares of OneMain in a report on Thursday, July 30th. Finally, Barclays decreased their price target on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 7th. Eight investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.40.

OneMain Stock Performance

NYSE OMF opened at $64.60 on Friday. The stock's fifty day moving average is $62.19 and its two-hundred day moving average is $57.74. The firm has a market capitalization of $7.43 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last issued its earnings results 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 return on equity of 23.49% and a net margin of 13.92%.The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $1.45 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 7.11 EPS for the current year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a dividend yield of 6.5%. OneMain's dividend payout ratio is 63.25%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source