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. raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335,097 shares of the financial services provider's stock after acquiring an additional 47,099 shares during the quarter. Invesco Ltd. owned approximately 0.28% of OneMain worth $16,380,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brave Warrior Advisors LLC boosted its position in OneMain by 0.5% during the 4th quarter. Brave Warrior Advisors LLC now owns 7,437,670 shares of the financial services provider's stock valued at $387,726,000 after acquiring an additional 35,448 shares in the last quarter. Northern Trust Corp boosted its position in OneMain by 19.2% during the 4th quarter. Northern Trust Corp now owns 1,538,672 shares of the financial services provider's stock valued at $80,211,000 after acquiring an additional 248,151 shares in the last quarter. Royal Bank of Canada boosted its position in OneMain by 47.5% during the 4th quarter. Royal Bank of Canada now owns 901,176 shares of the financial services provider's stock valued at $46,979,000 after acquiring an additional 290,323 shares in the last quarter. AQR Capital Management LLC boosted its position in OneMain by 37.8% during the 4th quarter. AQR Capital Management LLC now owns 835,288 shares of the financial services provider's stock valued at $43,544,000 after acquiring an additional 229,001 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in OneMain by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 776,649 shares of the financial services provider's stock valued at $40,483,000 after acquiring an additional 3,785 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Trading Up 0.4%

OMF stock traded up $0.23 on Thursday, hitting $61.59. The company had a trading volume of 144,793 shares, compared to its average volume of 1,086,013. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $62.02. The stock's 50-day simple moving average is $57.73 and its 200 day simple moving average is $52.62. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.48 and a beta of 1.29.

OneMain (NYSE:OMF - Get Free Report) last issued its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm's quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.16 annualized dividend and a yield of 6.8%. OneMain's dividend payout ratio (DPR) is currently 75.09%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 3,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 35,000 shares of the firm'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 transaction of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,000 shares of company stock worth $3,715,340 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OMF. JPMorgan Chase & Co. lifted their price objective on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wells Fargo & Company started coverage on OneMain in a research report on Monday. They set an "equal weight" rating for the company. Barclays raised their price objective on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $65.00 price objective on shares of OneMain in a research report on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, OneMain currently has a consensus rating of "Moderate Buy" and an average target price of $61.50.

OneMain Profile

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.