OneMain Holdings, Inc. $OMF Shares Purchased by State Street Corp

Key Points

• State Street increased its OneMain stake by 1.8% in the second quarter, owning 2.45 million shares valued at approximately $149.5 million. Institutional investors and hedge funds collectively own 85.82% of the company.
• OneMain insiders sold 14,348 shares worth approximately $911,576 over the past 90 days, while insiders retain just 0.29% of the stock.
• OneMain reported quarterly EPS of $1.31, topping estimates by $0.05, and revenue rose 6.7% year over year to $1.62 billion. The company also paid a $1.05 quarterly dividend, representing a 7.4% annualized yield, and analysts maintain a “Moderate Buy” consensus with a $68.40 target price.

State Street Corp boosted its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 1.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,451,937 shares of the financial services provider's stock after buying an additional 42,917 shares during the quarter. State Street Corp owned approximately 2.13% of OneMain worth $149,495,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in OneMain during the second quarter worth $633,893,000. Jupiter Topco LLC purchased a new stake in shares of OneMain in the second quarter valued at $166,060,000. Norges Bank purchased a new stake in shares of OneMain in the fourth quarter valued at $100,312,000. Bank of New York Mellon Corp acquired a new stake in shares of OneMain during the second quarter valued at $63,980,000. Finally, Azora Capital LP boosted its stake in shares of OneMain by 210.7% during the fourth quarter. Azora Capital LP now owns 1,362,934 shares of the financial services provider's stock valued at $92,066,000 after acquiring an additional 924,302 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Insider Activity

In other news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares in the company, valued at $5,967,750. This represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael A. Hedlund sold 2,500 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 10,627 shares in the company, valued at $680,128. This represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,348 shares of company stock valued at $911,576 in the last 90 days. 0.29% of the stock is owned by company insiders.

OneMain Stock Down 1.2%

OMF stock opened at $56.57 on Friday. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 0.45 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. The stock's fifty day simple moving average is $62.53 and its 200-day simple moving average is $58.28.

OneMain (NYSE:OMF - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 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 firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The business's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts anticipate that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were issued a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 7.4%. OneMain's payout ratio is 63.25%.

Wall Street Analyst Weigh In

OMF has been the subject of several analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of OneMain in a research note on Tuesday, July 7th. Citizens Jmp raised their price target 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. Royal Bank Of Canada raised their price target on shares of OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. TD Cowen lifted their price target on shares of OneMain from $66.00 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Truist Financial boosted 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. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, OneMain has an average rating of "Moderate Buy" and a consensus target price of $68.40.

OneMain Company 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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