Lido Advisors LLC Has $5.44 Million Holdings in OneMain Holdings, Inc. $OMF

Key Points

• Lido Advisors LLC reduced its OneMain Holdings stake by 30.6% in the first quarter, ending with 101,679 shares worth about $5.44 million.
• OneMain reported strong quarterly results, with EPS of $1.95 beating estimates and revenue of $1.58 billion topping forecasts; revenue also rose 6.7% year over year.
• The company continues to pay a high dividend, recently distributing $1.05 per share for a 7.0% annualized yield, while analysts rate the stock a consensus Moderate Buy with a $67.80 target price.

Lido Advisors LLC cut its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 30.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,679 shares of the financial services provider's stock after selling 44,728 shares during the quarter. Lido Advisors LLC owned 0.09% of OneMain worth $5,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMF. CIBC Private Wealth Group LLC boosted its stake in shares of OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider's stock valued at $25,000 after buying an additional 202 shares during the period. Core Wealth Advisors LLC bought a new position in OneMain during the 4th quarter worth $31,000. Atlantic Union Bankshares Corp bought a new position in OneMain during the 4th quarter worth $36,000. Transamerica Financial Advisors LLC raised its holdings in OneMain by 88.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 314 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in OneMain in the 3rd quarter valued at $46,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $114,576.00. Following the transaction, the senior vice president owned 13,127 shares of the company's stock, valued at $813,874. This trade represents a 12.34% 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 own 0.29% of the company's stock.

OneMain Trading Up 1.6%

OMF opened at $59.72 on Friday. The company's 50 day moving average is $57.44 and its 200-day moving average is $57.98. OneMain Holdings, Inc. has a 1-year low of $45.78 and a 1-year high of $71.93. The company has a market cap of $6.90 billion, a P/E ratio of 8.89, a PEG ratio of 0.45 and a beta of 1.22.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.09. The company had revenue of $1.58 billion for 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 firm's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. On average, equities analysts forecast that OneMain Holdings, Inc. will post 7.14 EPS for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Monday, May 11th. OneMain's payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of research firms have recently weighed in on OMF. JPMorgan Chase & Co. cut 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. Truist Financial dropped their price target on OneMain from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. Barclays dropped their price target on OneMain from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of OneMain in a research report on Friday, July 10th. Finally, TD Cowen increased their price objective on shares of OneMain from $66.00 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.80.

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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