Fox Run Management L.L.C. Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Fox Run Management L.L.C. has acquired a new stake in OneMain Holdings, Inc., buying 13,619 shares valued at approximately $666,000.
• Several institutional investors have increased their holdings in OneMain, with Allspring Global Investments boosting its stake by 56.5% and others showing significant percentage increases.
• OneMain recently announced a quarterly dividend of $1.04 per share, translating to an annualized dividend yield of 7.3%.

Fox Run Management L.L.C. bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,619 shares of the financial services provider's stock, valued at approximately $666,000.

A number of other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in OneMain by 56.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after buying an additional 43,915 shares during the period. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of OneMain by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock worth $1,251,000 after acquiring an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of OneMain in the first quarter worth $853,000. Finally, SG Americas Securities LLC raised 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 worth $532,000 after acquiring an additional 6,875 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Price Performance

NYSE:OMF traded down $0.1230 during midday trading on Wednesday, reaching $58.0970. The stock had a trading volume of 771,859 shares, compared to its average volume of 1,097,367. The stock has a market capitalization of $6.91 billion, a P/E ratio of 10.49, a PEG ratio of 0.45 and a beta of 1.29. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $60.33. The firm's fifty day simple moving average is $56.91 and its 200-day simple moving average is $52.44.

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

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's payout ratio is currently 75.09%.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer directly owned 275,100 shares of the company's stock, valued at approximately $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares in the company, valued at $5,639,045.47. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,000 shares of company stock valued at $3,976,390. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on OMF shares. Barclays boosted their target price on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JMP Securities reissued a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company boosted their target price on shares of OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $61.50.

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.