Kingsview Wealth Management LLC Acquires New Shares in OneMain Holdings, Inc. $OMF

Key Points

• Kingsview Wealth Management LLC disclosed a new stake in OneMain Holdings, buying 78,601 shares worth about $5.31 million in the fourth quarter.
• OneMain reported better-than-expected quarterly results, with EPS of $1.95 versus the $1.86 estimate and revenue of $1.58 billion versus the $1.27 billion forecast.
• The company also paid a $1.05 quarterly dividend, implying an annualized yield of about 7.6%, while analysts currently rate the stock a Moderate Buy with a $68.30 consensus price target.

Kingsview Wealth Management LLC acquired a new stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 78,601 shares of the financial services provider's stock, valued at approximately $5,310,000. Kingsview Wealth Management LLC owned approximately 0.07% of OneMain at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Csenge Advisory Group lifted its position in OneMain by 4.1% in the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 167 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in OneMain by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider's stock worth $275,000 after buying an additional 174 shares during the last quarter. Geneos Wealth Management Inc. raised its position in OneMain by 9.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider's stock worth $120,000 after buying an additional 176 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in OneMain by 3.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,710 shares of the financial services provider's stock worth $266,000 after buying an additional 177 shares during the last quarter. Finally, Generali Asset Management SPA SGR raised its position in OneMain by 5.9% in the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider's stock worth $231,000 after buying an additional 190 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Insider Activity at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief operating officer directly owned 101,250 shares in the company, valued at $6,075,000. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by insiders.

OneMain Price Performance

OMF opened at $55.35 on Friday. The firm has a market cap of $6.40 billion, a P/E ratio of 8.24, a PEG ratio of 0.40 and a beta of 1.27. OneMain Holdings, Inc. has a 1-year low of $45.78 and a 1-year high of $71.93. The company has a 50 day simple moving average of $55.18 and a two-hundred day simple moving average of $59.68.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.09. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The company's revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 earnings per share. Equities analysts anticipate that OneMain Holdings, Inc. will post 7.39 earnings per share for the current year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, May 11th. OneMain's payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

OMF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on OneMain from $63.00 to $55.00 and set an "underweight" rating for the company in a research report on Thursday, April 9th. TD Cowen reaffirmed a "buy" rating on shares of OneMain in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft dropped their target price on OneMain from $81.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada dropped their price target on shares of OneMain from $73.00 to $70.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Finally, BTIG Research reiterated a "neutral" rating on shares of OneMain in a research note on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, OneMain has a consensus rating of "Moderate Buy" and a consensus price target of $68.30.

OneMain 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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