OneMain Holdings, Inc. $OMF Shares Sold by Cooperman Leon G

Key Points

• Cooperman Leon G cut its stake in OneMain by 26.3% in Q3, selling 300,000 shares and reducing its holding to 839,000 shares (about 0.71% of the company) valued at roughly $47.4 million.
• OneMain reported better-than-expected quarterly results with EPS $1.59 (vs. $1.55 consensus) and revenue of $1.61 billion (vs. $1.28 billion), and it pays a quarterly dividend of $1.05—an annual yield of 8.1%.
• Large institutional activity continues—firms like Norges Bank, Certuity, Arrowstreet, Brave Warrior and AQR added or opened sizable positions (institutional ownership is 85.82%) while analysts have an average rating of “Moderate Buy” with a $72.11 target.

Cooperman Leon G lowered its stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 26.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 839,000 shares of the financial services provider's stock after selling 300,000 shares during the quarter. OneMain makes up about 1.5% of Cooperman Leon G's holdings, making the stock its 19th biggest position. Cooperman Leon G owned about 0.71% of OneMain worth $47,370,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of OMF. Norges Bank purchased a new position in OneMain during the second quarter worth $85,541,000. Certuity LLC lifted its position in shares of OneMain by 107.6% in the third quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider's stock valued at $109,013,000 after acquiring an additional 1,000,654 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of OneMain by 57.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider's stock valued at $110,958,000 after acquiring an additional 713,670 shares in the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of OneMain by 7.2% during the second quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider's stock valued at $448,595,000 after acquiring an additional 526,449 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of OneMain by 48.2% during the third quarter. AQR Capital Management LLC now owns 1,310,435 shares of the financial services provider's stock valued at $73,987,000 after acquiring an additional 426,088 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Insider Activity

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief operating officer owned 106,250 shares of the company's stock, valued at approximately $6,162,500. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas H. Shulman sold 57,500 shares of the firm's stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the completion of the transaction, the chief executive officer owned 174,100 shares in the company, valued at $11,910,181. The trade was a 24.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

OMF has been the subject of several analyst reports. Barclays set a $71.00 target price on shares of OneMain in a research note on Friday, February 6th. Truist Financial decreased their price target on shares of OneMain from $75.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, February 6th. Citizens Jmp set a $68.00 price objective on shares of OneMain in a research report on Monday, November 24th. Wall Street Zen downgraded shares of OneMain from a "buy" rating to a "hold" rating in a research note on Sunday, January 18th. Finally, Royal Bank Of Canada raised their target price on shares of OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $72.11.

OneMain Stock Down 1.2%

Shares of NYSE OMF opened at $52.03 on Friday. The stock has a market capitalization of $6.10 billion, a PE ratio of 7.92, a P/E/G ratio of 0.38 and a beta of 1.34. The firm has a fifty day moving average of $60.99 and a 200-day moving average of $61.01. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $71.93.

OneMain (NYSE:OMF - Get Free Report) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $1.16 EPS. Equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Tuesday, February 17th. OneMain's dividend payout ratio (DPR) is 63.93%.

OneMain 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.

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