Strs Ohio Makes New Investment in OneMain Holdings, Inc. $OMF

Key Points

• Strs Ohio has purchased 33,063 shares of OneMain Holdings, Inc., valued at approximately $1,616,000, during the first quarter of the year.
• The company reported an EPS of $1.45 for the last quarter, exceeding analysts' expectations of $1.25, with a year-over-year revenue increase of 7.1%.
• OneMain declared a quarterly dividend of $1.04 per share, representing a 6.9% yield and indicating a dividend payout ratio of 75.09%.

Strs Ohio bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,063 shares of the financial services provider's stock, valued at approximately $1,616,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of OneMain by 56.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider's stock valued at $5,966,000 after purchasing an additional 43,915 shares in the last quarter. GAMMA Investing LLC raised its position in OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after buying an additional 662 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in OneMain by 5.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 1,441 shares during the period. Teacher Retirement System of Texas purchased a new position in OneMain during the 1st quarter valued at about $853,000. Finally, SG Americas Securities LLC grew its stake in OneMain by 171.9% during the 1st quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider's stock valued at $532,000 after acquiring an additional 6,875 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OMF. Barclays increased their target price on shares of OneMain from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on OneMain from $50.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company started coverage on OneMain in a report on Monday, August 25th. They set an "equal weight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.50.

OneMain Stock Performance

OMF traded down $0.79 during mid-day trading on Friday, reaching $60.80. The stock had a trading volume of 1,309,774 shares, compared to its average volume of 752,091. The firm's fifty day simple moving average is $59.07 and its two-hundred day simple moving average is $53.41. The stock has a market capitalization of $7.23 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.48 and a beta of 1.30. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $63.24.

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

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 6.8%. OneMain's dividend payout ratio (DPR) is 75.09%.

Insider Transactions at OneMain

In other OneMain news, COO Micah R. Conrad sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total transaction of $232,080.00. Following the transaction, the chief operating officer directly owned 101,007 shares in the company, valued at approximately $5,860,426.14. This represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 275,100 shares in the company, valued at approximately $16,360,197. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,000 shares of company stock valued at $2,664,140. 0.40% of the stock is owned by insiders.

About OneMain

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.