OneMain Holdings, Inc. $OMF Shares Sold by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans cut its OneMain Holdings stake by 9.4% in the fourth quarter, selling 32,392 shares and leaving it with 312,991 shares valued at about $21.1 million.
• OneMain posted stronger-than-expected first-quarter earnings, with EPS of $1.95 versus estimates of $1.86 and revenue of $1.58 billion versus expectations of $1.27 billion.
• The company paid a quarterly dividend of $1.05 per share, which annualizes to $4.20 and implies a high yield of 7.9%.

Thrivent Financial for Lutherans decreased its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 312,991 shares of the financial services provider's stock after selling 32,392 shares during the quarter. Thrivent Financial for Lutherans owned about 0.27% of OneMain worth $21,142,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OMF. Root Financial Partners LLC acquired a new position in OneMain during the third quarter worth approximately $26,000. Atlantic Union Bankshares Corp acquired a new position in OneMain during the fourth quarter worth approximately $36,000. Activest Wealth Management increased its position in OneMain by 1,102.1% during the third quarter. Activest Wealth Management now owns 577 shares of the financial services provider's stock worth $33,000 after purchasing an additional 529 shares during the last quarter. Spire Wealth Management raised its position in shares of OneMain by 83.2% in the 4th quarter. Spire Wealth Management now owns 700 shares of the financial services provider's stock worth $47,000 after buying an additional 318 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of OneMain by 57.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider's stock worth $40,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OMF. Wall Street Zen lowered OneMain from a "buy" rating to a "hold" rating in a research note on Sunday, January 18th. Stephens reduced their price objective on OneMain to $76.00 and set an "overweight" rating on the stock in a research note on Friday, February 6th. BTIG Research reaffirmed a "neutral" rating on shares of OneMain in a research note on Thursday, April 16th. Barclays decreased their price objective on shares of OneMain from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of OneMain from $63.00 to $55.00 and set an "underweight" rating for the company in a research note on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $68.30.

OneMain Trading Down 0.1%

NYSE OMF opened at $53.48 on Monday. The company's fifty day simple moving average is $54.88 and its 200-day simple moving average is $60.04. OneMain Holdings, Inc. has a 52 week low of $45.78 and a 52 week high of $71.93. The stock has a market cap of $6.18 billion, a P/E ratio of 7.96, a PEG ratio of 0.39 and a beta of 1.27.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 EPS. On average, research analysts expect that OneMain Holdings, Inc. will post 7.39 EPS for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Monday, May 11th. OneMain's dividend payout ratio (DPR) is 62.50%.

Insiders Place Their Bets

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief operating officer owned 101,250 shares in the company, valued at $6,075,000. This trade represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by company insiders.

About OneMain

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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