Northern Trust Corp Has $72 Million 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 OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OMF. Raymond James Financial Inc. acquired a new position in OneMain in the fourth quarter worth approximately $2,075,000. Mariner LLC increased its holdings in OneMain by 6.3% in the fourth quarter. Mariner LLC now owns 17,197 shares of the financial services provider's stock worth $896,000 after buying an additional 1,019 shares during the last quarter. NewEdge Advisors LLC increased its holdings in OneMain by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 6,809 shares of the financial services provider's stock worth $355,000 after buying an additional 334 shares during the last quarter. MML Investors Services LLC lifted its holdings in OneMain by 17.4% in the 4th quarter. MML Investors Services LLC now owns 21,518 shares of the financial services provider's stock worth $1,122,000 after purchasing an additional 3,195 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in OneMain during the fourth quarter worth approximately $298,000. Institutional investors and hedge funds own 85.82% of the company's stock.

OneMain Trading Up 0.4%

OMF traded up $0.26 during midday trading on Friday, reaching $61.85. The company's stock had a trading volume of 642,396 shares, compared to its average volume of 794,299. The stock has a market cap of $7.35 billion, a P/E ratio of 11.16, a PEG ratio of 0.48 and a beta of 1.30. The company has a fifty day simple moving average of $58.04 and a 200 day simple moving average of $52.66. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $62.02.

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

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 6.7%. OneMain's dividend payout ratio (DPR) is 75.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays upped their target price on OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company assumed coverage on OneMain in a research report on Monday, August 25th. They set an "equal weight" rating for the company. Finally, JPMorgan Chase & Co. upped their target price on OneMain from $50.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One investment 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. According to MarketBeat.com, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the transaction, the chief executive officer owned 275,100 shares of the company's stock, valued at $16,360,197. This represents a 11.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Micah R. Conrad sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.02, for a total value of $232,080.00. Following the completion of the transaction, the chief operating officer directly owned 101,007 shares of the company's stock, valued at approximately $5,860,426.14. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,000 shares of company stock valued at $3,715,340. Insiders own 0.40% of the company's stock.

OneMain Profile

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.