M&T Bank Corp Grows Holdings in OneMain Holdings, Inc. $OMF

Key Points

• M&T Bank Corp increased its stake in OneMain by 433.3% to 52,549 shares (worth $3.55M), and institutional investors now own about 85.82% of the stock.
• OneMain reported a Q4 beat (EPS $1.59 vs. $1.55 expected; revenue $1.61B vs. $1.28B est.) with strong profitability, and it pays a sizable dividend of $1.05 quarterly (annualized $4.20) yielding around 7.1% (payout ratio ~64%).
• Analyst sentiment is mixed with several recent target cuts (e.g., Barclays to $62, JPMorgan to $55), but the consensus rating remains a Moderate Buy with an average target of $67.44.

M&T Bank Corp grew its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 433.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,549 shares of the financial services provider's stock after purchasing an additional 42,696 shares during the period. M&T Bank Corp's holdings in OneMain were worth $3,550,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OMF. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in OneMain by 39.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 126,492 shares of the financial services provider's stock worth $8,553,000 after acquiring an additional 35,466 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of OneMain by 141.5% during the 4th quarter. Salomon & Ludwin LLC now owns 1,041 shares of the financial services provider's stock worth $73,000 after purchasing an additional 610 shares during the period. SageGuard Financial Group LLC acquired a new stake in shares of OneMain during the fourth quarter worth $282,000. Evergreen Capital Management LLC grew its position in shares of OneMain by 140.4% in the fourth quarter. Evergreen Capital Management LLC now owns 25,434 shares of the financial services provider's stock valued at $1,718,000 after purchasing an additional 14,855 shares during the period. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of OneMain in the fourth quarter valued at $439,000. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Price Performance

Shares of NYSE:OMF opened at $59.41 on Monday. The business has a 50-day moving average of $54.99 and a two-hundred day moving average of $60.01. The firm has a market capitalization of $6.96 billion, a PE ratio of 9.04, a P/E/G ratio of 0.43 and a beta of 1.30. OneMain Holdings, Inc. has a 12 month low of $45.02 and a 12 month high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.16 EPS. As a group, research analysts anticipate that OneMain Holdings, Inc. will post 7.5 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Tuesday, February 17th. OneMain's payout ratio is 63.93%.

Analysts Set New Price Targets

Several research firms recently weighed in on OMF. Barclays reduced their target price on OneMain from $71.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. BTIG Research reiterated a "neutral" rating on shares of OneMain in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $63.00 to $55.00 and set an "underweight" rating on the stock in a research report on Thursday, April 9th. Stephens lowered their target price on shares of OneMain to $76.00 and set an "overweight" rating for the company in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of OneMain in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $67.44.

Insiders Place Their Bets

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.40% of the stock is currently owned by company insiders.

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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