Vanguard Group Inc. Has $574.42 Million Stake in OneMain Holdings, Inc. $OMF

Key Points

• Vanguard Group Inc. reduced its holdings in OneMain Holdings by 1.2%, now owning approximately 11.75 million shares, valued at $574.4 million.
• Several institutional investors have increased their stake in OneMain, with significant growth from GAMMA Investing LLC and Farther Finance Advisors LLC during the first quarter.
• OneMain announced a quarterly dividend of $1.04 per share, reflecting an annualized dividend yield of 7.2%, with a payout ratio of 75.09%.

Vanguard Group Inc. decreased its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,751,589 shares of the financial services provider's stock after selling 137,524 shares during the quarter. Vanguard Group Inc. owned 9.88% of OneMain worth $574,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thoroughbred Financial Services LLC boosted its stake in shares of OneMain by 23.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 7,333 shares of the financial services provider's stock valued at $358,000 after buying an additional 1,390 shares during the period. SlateStone Wealth LLC lifted its position in OneMain by 5.7% in the first quarter. SlateStone Wealth LLC now owns 7,474 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 400 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of OneMain in the 1st quarter valued at about $2,029,000. LPL Financial LLC raised its position in OneMain by 2.7% in the 1st quarter. LPL Financial LLC now owns 166,275 shares of the financial services provider's stock valued at $8,128,000 after purchasing an additional 4,439 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of OneMain by 7.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,384 shares of the financial services provider's stock valued at $1,583,000 after buying an additional 2,141 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company's stock.

OneMain Stock Performance

Shares of OMF stock traded up $0.64 during trading hours on Monday, hitting $57.91. 320,894 shares of the company were exchanged, compared to its average volume of 1,096,436. The business's 50-day simple moving average is $56.70 and its two-hundred day simple moving average is $52.38. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $60.33. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 0.45 and a beta of 1.29.

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

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Monday, August 4th. OneMain's payout ratio is currently 75.09%.

Insider Buying and Selling at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction 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. This represents a 11.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the sale, the chief operating officer directly owned 108,007 shares of the company's stock, valued at approximately $5,639,045.47. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,000 shares of company stock worth $3,976,390. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

OneMain 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.