Invesco Ltd. Acquires 47,099 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Invesco Ltd. increased its holdings in OneMain Holdings by 16.4%, acquiring an additional 47,099 shares, bringing their total ownership to about 335,097 shares worth $16.38 million.
• OneMain recently announced a quarterly dividend of $1.04 per share, representing a 6.9% dividend yield with a payout ratio of 75.09%.
• Analysts have raised their price targets for OneMain, with JPMorgan Chase increasing its target from $50 to $63, indicating a bullish outlook on the company's performance.

Invesco Ltd. lifted its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 335,097 shares of the financial services provider's stock after purchasing an additional 47,099 shares during the quarter. Invesco Ltd. owned about 0.28% of OneMain worth $16,380,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $5,966,000 after purchasing an additional 43,915 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after purchasing an additional 662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of OneMain by 5.9% during 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 purchasing an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of OneMain during the first quarter worth $853,000. Finally, SG Americas Securities LLC boosted 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 purchasing an additional 6,875 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Trading Up 0.5%

NYSE:OMF traded up $0.28 during mid-day trading on Thursday, hitting $61.64. The company had a trading volume of 853,518 shares, compared to its average volume of 875,878. The business has a fifty day simple moving average of $57.89 and a 200-day simple moving average of $52.66. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $62.02. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.48 and a beta of 1.29.

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

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Monday, August 4th. OneMain's payout ratio is presently 75.09%.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company's 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 in the company, valued at $16,360,197. This represents a 11.29% 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, COO Micah R. Conrad sold 3,000 shares of the company'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 completion of the transaction, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,000 shares of company stock worth $3,715,340. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OMF. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. 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. Wells Fargo & Company assumed coverage on OneMain in a research report on Monday. They issued an "equal weight" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.