OneMain Holdings, Inc. $OMF Position Increased by Wellington Management Group LLP

Key Points

• Wellington Management increased its OneMain Holdings stake by 10.6% in the second quarter, bringing its holdings to 284,586 shares worth approximately $17.35 million. Institutional investors collectively own 85.82% of the company.
• OneMain reported quarterly EPS of $1.31, exceeding estimates by $0.05, while revenue rose 6.7% year over year to $1.62 billion. The company also paid a quarterly dividend of $1.05 per share, representing a 6.5% annualized yield.
• Analyst sentiment remains favorable, with eight Buy ratings, three Holds and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $68.40 versus its reported $64.60 price.

Wellington Management Group LLP boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,586 shares of the financial services provider's stock after purchasing an additional 27,371 shares during the quarter. Wellington Management Group LLP owned approximately 0.25% of OneMain worth $17,351,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in OneMain in the second quarter worth $4,475,000. Public Employees Retirement System of Ohio boosted its holdings in shares of OneMain by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 43,661 shares of the financial services provider's stock valued at $2,662,000 after acquiring an additional 2,892 shares during the period. Capstone Investment Advisors LLC bought a new position in shares of OneMain during the second quarter worth about $346,000. Corient Private Wealth LP bought a new position in shares of OneMain during the second quarter worth about $1,986,000. Finally, Azora Capital LP increased its holdings in shares of OneMain by 266.0% in the 2nd quarter. Azora Capital LP now owns 1,063,857 shares of the financial services provider's stock worth $64,863,000 after acquiring an additional 773,192 shares during the period. 85.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Micah R. Conrad sold 5,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the sale, the chief operating officer owned 91,250 shares of the company's stock, valued at approximately $5,967,750. The trade was a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Hedlund sold 2,500 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares of the company's stock, valued at $680,128. This represents a 19.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,348 shares of company stock valued at $911,576 over the last 90 days. 0.29% of the stock is currently owned by insiders.

OneMain Stock Down 0.0%

Shares of OMF opened at $64.60 on Monday. The firm has a 50-day moving average price of $62.19 and a 200 day moving average price of $57.74. The firm has a market capitalization of $7.43 billion, a PE ratio of 9.73, a P/E/G ratio of 0.50 and a beta of 1.22. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. OneMain's revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. On average, equities analysts expect that OneMain Holdings, Inc. will post 7.11 EPS for the current year.

OneMain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.5%. OneMain's payout ratio is presently 63.25%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of OneMain in a research note on Friday, July 10th. Barclays cut their price target on OneMain from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 7th. Citigroup reiterated a "market outperform" rating on shares of OneMain in a research report on Thursday, July 30th. Finally, Citizens Jmp increased their price objective on OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $68.40.

OneMain Company 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.

Want to see what other hedge funds are holding OMF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OneMain Holdings, Inc. (NYSE:OMF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.