Kendall Capital Management Invests $1.48 Million in OneMain Holdings, Inc. $OMF

Key Points

• Kendall Capital Management initiated a $1.48 million position in OneMain Holdings during the second quarter, while institutional investors collectively own 85.82% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $68.40; recent earnings also exceeded expectations.
• OneMain reported quarterly EPS of $1.31 on $1.62 billion in revenue and declared a $1.05 quarterly dividend, equivalent to a 6.6% annualized yield.

Kendall Capital Management bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 24,330 shares of the financial services provider's stock, valued at approximately $1,483,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in OneMain in the second quarter worth $633,893,000. Dimensional Fund Advisors LP increased its stake in OneMain by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider's stock valued at $232,258,000 after buying an additional 308,370 shares during the last quarter. Janus Henderson Group PLC grew its stake in OneMain by 7.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider's stock valued at $146,030,000 after purchasing an additional 195,591 shares during the period. Geode Capital Management LLC boosted its stake in OneMain by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider's stock valued at $164,017,000 after acquiring an additional 15,941 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of OneMain by 17.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,310,513 shares of the financial services provider's stock valued at $156,075,000 after buying an additional 345,269 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank Of Canada raised their price target on OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Evercore set a $66.00 target price on OneMain in a research report on Monday, July 6th. Barclays decreased their target price on OneMain from $61.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 7th. TD Cowen raised their price target on OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of OneMain in a report on Friday, July 10th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.40.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the transaction, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction dated 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 in the company, valued at $680,128. This trade represents a 19.04% 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 quarter. Company insiders own 0.29% of the company's stock.

OneMain Stock Performance

OneMain stock opened at $63.26 on Friday. The firm's fifty day moving average price is $61.24 and its 200-day moving average price is $57.61. The stock has a market cap of $7.28 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 0.48 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.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. On average, analysts predict that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.6%. OneMain's 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.

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