Nuveen LLC Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Nuveen LLC acquired a new stake in OneMain Holdings, Inc., totaling approximately $48.28 million for 987,769 shares, representing about 0.83% of the company's stock as of the end of the most recent quarter.
• OneMain's recent financial performance included $1.45 EPS, exceeding analysts' expectations, with a revenue increase of 7.1% year-over-year.
• The company's quarterly dividend of $1.04 per share, which yields 7.1%, underscores its commitment to returning value to shareholders.

Nuveen LLC bought a new position in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 987,769 shares of the financial services provider's stock, valued at approximately $48,282,000. Nuveen LLC owned 0.83% of OneMain as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Azora Capital LP bought a new stake in shares of OneMain in the fourth quarter worth $39,650,000. Point72 Asset Management L.P. bought a new stake in OneMain during the fourth quarter worth $15,566,000. Royal Bank of Canada raised its position 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 worth $46,979,000 after acquiring an additional 290,323 shares in the last quarter. Northern Trust Corp raised its position in OneMain by 19.2% during the fourth quarter. Northern Trust Corp now owns 1,538,672 shares of the financial services provider's stock worth $80,211,000 after acquiring an additional 248,151 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of OneMain by 37.8% in the fourth quarter. AQR Capital Management LLC now owns 835,288 shares of the financial services provider's stock valued at $43,544,000 after purchasing an additional 229,001 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OMF shares. Wells Fargo & Company increased their price objective on shares of OneMain from $53.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Barclays increased their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. JMP Securities reissued a "market outperform" rating and issued a $65.00 price objective on shares of OneMain in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, OneMain currently has a consensus rating of "Moderate Buy" and an average price target of $61.50.

Insider Buying and Selling

In other 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 directly owned 275,100 shares of the company's stock, valued at $16,360,197. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the transaction, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. The trade was a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $3,976,390 over the last three months. Corporate insiders own 0.40% of the company's stock.

OneMain Stock Down 0.1%

OMF traded down $0.08 during midday trading on Tuesday, hitting $58.09. 175,776 shares of the company were exchanged, compared to its average volume of 1,094,348. The firm has a market capitalization of $6.91 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.45 and a beta of 1.29. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $60.33. The firm's 50 day moving average price is $56.81 and its 200-day moving average price is $52.40.

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

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Monday, August 4th. OneMain's payout ratio is currently 75.09%.

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.