Norges Bank Takes Position in OneMain Holdings, Inc. $OMF

Key Points

• Norges Bank disclosed a new fourth-quarter stake in OneMain Holdings, buying 1,484,999 shares valued at about $100.3 million, giving it a 1.26% position.
• OneMain reported better-than-expected Q1 earnings, posting $1.95 EPS versus $1.86 expected and revenue of $1.58 billion, up 6.7% year over year.
• The company also paid a $1.05 quarterly dividend, equivalent to a 7.6% annualized yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $68.30.

Norges Bank bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,484,999 shares of the financial services provider's stock, valued at approximately $100,312,000. Norges Bank owned 1.26% of OneMain as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of OneMain during the first quarter valued at approximately $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of OneMain by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider's stock valued at $21,634,000 after purchasing an additional 9,067 shares during the period. Focus Partners Wealth raised its stake in shares of OneMain by 101.8% during the first quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider's stock valued at $427,000 after purchasing an additional 4,407 shares during the period. Prudential Financial Inc. raised its stake in shares of OneMain by 32.9% during the second quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider's stock valued at $541,000 after purchasing an additional 2,350 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of OneMain by 26.2% during the second quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider's stock valued at $1,119,000 after purchasing an additional 4,084 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $6,075,000. This represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by insiders.

OneMain Stock Up 0.2%

Shares of OMF opened at $55.41 on Friday. The business's 50 day moving average is $55.42 and its two-hundred day moving average is $59.50. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.41 and a beta of 1.24.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $1.72 EPS. OneMain's quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that OneMain Holdings, Inc. will post 7.38 earnings per share for the current fiscal year.

OneMain Dividend Announcement

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

Analysts Set New Price Targets

OMF has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their price objective 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. Evercore set a $55.00 price objective on shares of OneMain in a research note on Tuesday, March 17th. Wells Fargo & Company dropped their price objective on shares of OneMain from $70.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. Barclays dropped their price objective on shares of OneMain from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of OneMain from $63.00 to $55.00 and set an "underweight" rating on the stock in a research note on Thursday, April 9th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.30.

About OneMain

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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