Point72 Asset Management L.P. Purchases Shares of 298,596 OneMain Holdings, Inc. (NYSE:OMF)

Point72 Asset Management L.P. bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 298,596 shares of the financial services provider's stock, valued at approximately $15,566,000. Point72 Asset Management L.P. owned approximately 0.25% of OneMain at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Ieq Capital LLC purchased a new position in OneMain in the fourth quarter worth $896,000. Orion Portfolio Solutions LLC grew its stake in shares of OneMain by 66.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,681 shares of the financial services provider's stock worth $922,000 after purchasing an additional 7,060 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of OneMain by 15.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 569 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of OneMain by 180.0% in the fourth quarter. IFP Advisors Inc now owns 770 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 495 shares during the period. Finally, Vista Finance LLC purchased a new stake in OneMain during the fourth quarter worth about $331,000. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Trading Down 0.6%

Shares of OneMain stock traded down $0.30 during mid-day trading on Friday, hitting $50.05. 194,972 shares of the stock were exchanged, compared to its average volume of 1,040,262. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $58.90. The company has a 50-day simple moving average of $47.82 and a 200 day simple moving average of $51.97.

OneMain (NYSE:OMF - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.17. The firm had revenue of $188.00 million for the quarter, compared to analyst estimates of $1.16 billion. OneMain had a net margin of 10.19% and a return on equity of 18.39%. OneMain's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 earnings per share. Equities research analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.31%. The ex-dividend date was Friday, May 9th. OneMain's dividend payout ratio is currently 87.95%.

Insider Activity at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 40,000 shares of OneMain stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief executive officer now owns 368,925 shares in the company, valued at $18,446,250. The trade was a 9.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of OneMain from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Barclays set a $56.00 target price on OneMain in a research report on Friday, March 14th. Stephens restated an "overweight" rating and issued a $62.00 price target on shares of OneMain in a research report on Monday, February 3rd. Northland Capmk upgraded shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Evercore ISI began coverage on shares of OneMain in a report on Tuesday, March 25th. They set an "in-line" rating and a $58.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.40.

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.