State of Wyoming Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Wyoming purchased a new 30,052-share stake in OneMain Holdings during the second quarter, valued at approximately $1.83 million. Institutional investors and hedge funds collectively own 85.82% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings, three Holds and one Sell; OneMain’s consensus rating is “Moderate Buy” with a $68.40 target price.
• OneMain exceeded quarterly earnings expectations, reporting $1.31 in EPS and $1.62 billion in revenue, while maintaining a $1.05 quarterly dividend—equal to a 6.4% annualized yield.

State of Wyoming bought a new stake in OneMain Holdings, Inc. (NYSE:OMF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,052 shares of the financial services provider's stock, valued at approximately $1,832,000.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of OneMain during the 4th quarter worth $100,312,000. Janus Henderson Group PLC grew its stake in OneMain by 70.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider's stock valued at $171,210,000 after acquiring an additional 1,047,263 shares during the last quarter. Azora Capital LP grew its stake in OneMain by 210.7% in the 4th 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. Arrowstreet Capital Limited Partnership increased its holdings in OneMain by 57.0% during the 3rd 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. Finally, Goldman Sachs Group Inc. increased its holdings in OneMain by 47.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,855,709 shares of the financial services provider's stock valued at $125,353,000 after acquiring an additional 596,455 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on OMF. TD Cowen upped their price target on shares of OneMain from $66.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Barclays dropped their price objective on shares of OneMain from $61.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 7th. Royal Bank Of Canada lifted their price objective on OneMain from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Evercore set a $66.00 price objective on OneMain in a research report on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of OneMain in a research note on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, OneMain has a consensus rating of "Moderate Buy" and a consensus target price of $68.40.

OneMain Trading Up 0.6%

NYSE OMF opened at $65.66 on Friday. The business's 50-day moving average price is $60.41 and its 200 day moving average price is $57.67. OneMain Holdings, Inc. has a twelve month low of $45.78 and a twelve month high of $71.93. The company has a market capitalization of $7.55 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.50 and a beta of 1.21.

OneMain (NYSE:OMF - Get Free Report) last posted its quarterly 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 company had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The firm's revenue was up 6.7% on a year-over-year basis. Equities analysts predict that OneMain Holdings, Inc. will post 7.12 EPS for the current year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were given a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a dividend yield of 6.4%. OneMain's dividend payout ratio (DPR) is currently 63.25%.

Insider Activity at OneMain

In related news, SVP Michael A. Hedlund sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the completion of the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 of the company's stock, valued at $5,967,750. This trade represents a 5.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,348 shares of company stock worth $911,576 over the last three months. Corporate insiders own 0.29% of the company's stock.

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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