Miller Value Partners LLC Acquires New Stake in OneMain Holdings, Inc. $OMF

Key Points

• Miller Value Partners acquired 82,941 OneMain shares worth approximately $5.1 million, giving it a 0.07% stake and making OMF its 24th-largest portfolio holding. Institutional investors collectively own 85.82% of the company.
• Analysts maintain a “Moderate Buy” consensus, with a $68.40 average price target; eight analysts rate the stock a Buy, three a Hold, and one a Sell.
• OneMain recently beat quarterly EPS estimates and reported 6.7% year-over-year revenue growth. The company paid a $1.05 quarterly dividend, equivalent to a 6.6% annualized yield.

Miller Value Partners LLC bought a new stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 82,941 shares of the financial services provider's stock, valued at approximately $5,057,000. OneMain accounts for approximately 1.2% of Miller Value Partners LLC's portfolio, making the stock its 24th biggest position. Miller Value Partners LLC owned approximately 0.07% of OneMain at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OMF. BlackRock Inc. purchased a new stake in OneMain in the second quarter worth about $633,893,000. Jupiter Topco LLC purchased a new position in shares of OneMain during the 2nd quarter valued at about $166,060,000. Norges Bank bought a new position in shares of OneMain during the 4th quarter valued at approximately $100,312,000. Bank of New York Mellon Corp bought a new position in shares of OneMain during the 2nd quarter valued at approximately $63,980,000. Finally, Janus Henderson Group PLC increased its holdings in OneMain by 70.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider's stock worth $171,210,000 after acquiring an additional 1,047,263 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the sale, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,348 shares of company stock valued at $911,576 over the last ninety days. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on OMF. TD Cowen raised their target price 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. Royal Bank Of Canada increased their price objective on shares of OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Evercore set a $66.00 price objective on shares of OneMain in a research report on Monday, July 6th. Truist Financial lifted their target price on shares of OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of OneMain in a report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.40.

OneMain Trading Up 0.7%

NYSE OMF opened at $63.33 on Wednesday. OneMain Holdings, Inc. has a 12 month low of $45.78 and a 12 month high of $71.93. The stock has a market cap of $7.29 billion, a PE ratio of 9.54, a P/E/G ratio of 0.48 and a beta of 1.21. The stock's 50 day moving average is $61.46 and its 200 day moving average is $57.55.

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

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Monday, August 10th. OneMain's dividend payout ratio (DPR) is presently 63.25%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source