Phocas Financial Corp. Lowers Position in OneMain Holdings, Inc. (NYSE:OMF)

Key Points

• Phocas Financial Corp. has reduced its stake in OneMain Holdings, Inc. by 5.4%, now owning 102,729 shares valued at approximately $5,021,000 after selling 5,918 shares during the first quarter.
• Several analysts have upgraded their ratings on OneMain, with JPMorgan Chase & Co. raising the price target from $50.00 to $63.00 and assigning an "overweight" rating.
• OneMain recently announced a quarterly dividend of $1.04 per share, reflecting an annualized yield of 7.4% and a payout ratio of 75.09%.

Phocas Financial Corp. lowered its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,729 shares of the financial services provider's stock after selling 5,918 shares during the period. Phocas Financial Corp. owned about 0.09% of OneMain worth $5,021,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in OneMain by 34.9% in the 4th quarter. Sei Investments Co. now owns 11,148 shares of the financial services provider's stock worth $581,000 after purchasing an additional 2,886 shares during the period. LPL Financial LLC boosted its position in OneMain by 6.1% during the 4th quarter. LPL Financial LLC now owns 161,836 shares of the financial services provider's stock worth $8,437,000 after acquiring an additional 9,245 shares during the period. Pictet Asset Management Holding SA grew its stake in OneMain by 16.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,118 shares of the financial services provider's stock valued at $997,000 after acquiring an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of OneMain by 66.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider's stock valued at $922,000 after purchasing an additional 7,060 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of OneMain by 25.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,426 shares of the financial services provider's stock worth $387,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OMF. Wells Fargo & Company upped their target price on OneMain from $53.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Barclays increased their price target on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, JMP Securities restated a "market outperform" rating and set a $65.00 price target on shares of OneMain in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, OneMain presently has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Insiders Place Their Bets

In other OneMain news, COO Micah R. Conrad sold 3,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the completion of the sale, the chief executive officer owned 275,100 shares of the company's stock, valued at $16,360,197. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $3,976,390 over the last quarter. 0.40% of the stock is currently owned by company insiders.

OneMain Price Performance

Shares of OMF traded down $0.66 during trading hours on Thursday, hitting $55.76. 125,374 shares of the stock were exchanged, compared to its average volume of 1,116,537. The business has a 50-day moving average of $56.05 and a 200-day moving average of $52.45. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $60.33. The firm has a market capitalization of $6.63 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.29.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. As a group, analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Monday, August 4th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Monday, August 4th. OneMain's dividend payout ratio is currently 75.09%.

OneMain Company 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.