OneMain Holdings, Inc. $OMF Shares Acquired by Park West Asset Management LLC

Key Points

• Park West Asset Management LLC increased its stake in OneMain Holdings by 4.7%, acquiring 33,000 additional shares, bringing its total to 737,759 shares.
• Wall Street analysts have a consensus rating of "Moderate Buy" for OneMain, with a price target averaging $61.50, amid recent price target upgrades from Barclays and JPMorgan Chase.
• OneMain recently announced a quarterly dividend of $1.04 per share, indicating a yield of 6.8% and a payout ratio of 75.09%.

Park West Asset Management LLC raised its stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,759 shares of the financial services provider's stock after purchasing an additional 33,000 shares during the quarter. OneMain comprises 2.9% of Park West Asset Management LLC's holdings, making the stock its 15th biggest position. Park West Asset Management LLC owned approximately 0.62% of OneMain worth $36,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of OMF. Ameriprise Financial Inc. increased its stake in OneMain by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 87,527 shares of the financial services provider's stock valued at $4,563,000 after purchasing an additional 3,631 shares in the last quarter. BNP Paribas Financial Markets increased its stake in OneMain by 32.2% during the 4th quarter. BNP Paribas Financial Markets now owns 63,436 shares of the financial services provider's stock valued at $3,307,000 after purchasing an additional 15,437 shares in the last quarter. Bank of America Corp DE increased its stake in OneMain by 7.7% during the 4th quarter. Bank of America Corp DE now owns 318,669 shares of the financial services provider's stock valued at $16,612,000 after purchasing an additional 22,860 shares in the last quarter. Cetera Investment Advisers increased its stake in OneMain by 5.6% during the 4th quarter. Cetera Investment Advisers now owns 30,889 shares of the financial services provider's stock valued at $1,610,000 after purchasing an additional 1,631 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in OneMain during the 4th quarter valued at approximately $232,000. Institutional investors and hedge funds own 85.82% of the company's stock.

Wall Street Analysts Forecast Growth

OMF has been the topic of a number of recent analyst reports. Barclays upped their price target 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. increased their price objective 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. Finally, Wells Fargo & Company assumed coverage on shares of OneMain in a research note on Monday, August 25th. They issued an "equal weight" rating on the stock. One investment 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

OneMain Price Performance

NYSE:OMF opened at $61.47 on Friday. The firm has a market capitalization of $7.31 billion, a P/E ratio of 11.10, a PEG ratio of 0.49 and a beta of 1.30. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $63.25. The company's fifty day moving average price is $58.67 and its 200-day moving average price is $52.88.

OneMain (NYSE:OMF - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $1.20 billion for 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 firm's revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share. Equities analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 6.8%. The ex-dividend date was Monday, August 4th. OneMain's dividend payout ratio (DPR) is currently 75.09%.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 3,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer owned 98,007 shares in the company, valued at approximately $5,880,420. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,000 shares of company stock worth $3,715,340. 0.40% of the stock is owned by company insiders.

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.

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