OneMain Holdings, Inc. $OMF Position Lowered by California State Teachers Retirement System

Key Points

• Institutional ownership shifted: California State Teachers Retirement System reduced its OneMain stake by 4.1% to 135,241 shares, while several major investors initiated or expanded positions. Institutions collectively own 85.82% of the company.
• Quarterly results exceeded expectations: OneMain reported earnings of $1.31 per share versus the $1.26 consensus estimate, 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 6.8% annualized yield.
• Analysts remain broadly positive: OneMain has a “Moderate Buy” consensus rating, with eight Buy, three Hold and one Sell rating, and an average price target of $68.40. Shares recently traded down 2.5% to $61.60.

California State Teachers Retirement System trimmed its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,241 shares of the financial services provider's stock after selling 5,740 shares during the period. California State Teachers Retirement System owned about 0.12% of OneMain worth $8,245,644 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of OneMain during the 2nd quarter worth about $633,893,000. Jupiter Topco LLC bought a new stake in OneMain during the second quarter worth about $166,060,000. Norges Bank bought a new stake in OneMain in the fourth quarter valued at $100,312,000. Bank of New York Mellon Corp bought a new stake in shares of OneMain during the second quarter valued at approximately $63,980,000. Finally, Azora Capital LP lifted its position in shares of OneMain by 210.7% during the 4th quarter. Azora Capital LP now owns 1,362,934 shares of the financial services provider's stock valued at $92,066,000 after buying an additional 924,302 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Trading Down 2.5%

OMF traded down $1.60 during trading on Tuesday, hitting $61.60. 317,147 shares of the company traded hands, compared to its average volume of 1,261,586. The stock's 50-day simple moving average is $62.51 and its two-hundred day simple moving average is $58.03. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The company has a market cap of $7.09 billion, a PE ratio of 9.28, a P/E/G ratio of 0.48 and a beta of 1.22.

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

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Monday, August 10th. OneMain's payout ratio is 63.25%.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the sale, the chief operating officer directly owned 96,250 shares in the company, valued at $5,967,500. This trade represents a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the completion of the transaction, the senior vice president owned 10,627 shares of the company's stock, valued at $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,348 shares of company stock worth $911,576 over the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citizens Jmp lifted their target price on shares of OneMain from $68.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Truist Financial boosted their price target on OneMain from $70.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their target price on shares of OneMain from $70.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. TD Cowen raised their target price on shares of OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of OneMain in a report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, OneMain presently has an average rating of "Moderate Buy" and a consensus price target of $68.40.

OneMain Profile

OneMain Holdings, Inc NYSE: OMF is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.

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