Northern Trust Corp Trims Stock Position in OneMain Holdings, Inc. $OMF

Key Points

• Northern Trust Corp has reduced its stake in OneMain Holdings by 4.3%, now owning 1,472,929 shares valued at approximately $71.997 million.
• Recent analyst ratings show an increase in price targets for OneMain, with Barclays raising it from $48 to $56, and JPMorgan from $50 to $63, indicating strong investor interest.
• OneMain announced a quarterly dividend of $1.04 per share, reflecting an annualized rate of $4.16 and a yield of 6.9%.

Northern Trust Corp lowered its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,472,929 shares of the financial services provider's stock after selling 65,743 shares during the period. Northern Trust Corp owned 1.24% of OneMain worth $71,997,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of OMF. Nuveen LLC purchased a new position in OneMain during the first quarter valued at approximately $48,282,000. Azora Capital LP purchased a new position in OneMain during the fourth quarter valued at approximately $39,650,000. Certuity LLC grew its stake in OneMain by 86.0% during the first quarter. Certuity LLC now owns 930,012 shares of the financial services provider's stock valued at $45,459,000 after acquiring an additional 430,011 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in OneMain during the fourth quarter valued at approximately $15,566,000. Finally, Royal Bank of Canada grew its stake in OneMain by 47.5% during the fourth quarter. Royal Bank of Canada now owns 901,176 shares of the financial services provider's stock valued at $46,979,000 after acquiring an additional 290,323 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

Wall Street Analyst Weigh In

OMF has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wells Fargo & Company began coverage on shares of OneMain in a research note on Monday. They issued an "equal weight" rating for the company. Finally, JMP Securities reissued a "market outperform" rating and issued a $65.00 price target on shares of OneMain in a research note on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $61.50.

OneMain Price Performance

OMF stock opened at $60.19 on Tuesday. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $60.75. The stock has a market cap of $7.15 billion, a PE ratio of 10.86, a P/E/G ratio of 0.47 and a beta of 1.29. The firm has a 50 day simple moving average of $57.40 and a two-hundred day simple moving average of $52.50.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. On average, research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Monday, August 4th. OneMain's payout ratio is presently 75.09%.

Insider Buying and Selling

In other news, CEO Douglas H. Shulman sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer directly owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer owned 98,007 shares of the company's stock, valued at approximately $5,880,420. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,000 shares of company stock valued at $3,976,390. Company insiders own 0.40% of the company's stock.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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