OneMain Holdings, Inc. (NYSE:OMF) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in OneMain Holdings, Inc. by 226.3% in the first quarter, acquiring an additional 48,702 shares, bringing its total holdings to 70,219 shares valued at approximately $3.43 million.
• Other institutional investors, including Vanguard Group Inc. and FMR LLC, have also raised their positions in OneMain, with 85.82% of total stock owned by institutional investors.
• OneMain Holdings declared a quarterly dividend of $1.04 per share, equating to an annual yield of 7.01%, along with reporting a quarterly earnings per share of $1.45, exceeding estimates of $1.25.

Victory Capital Management Inc. lifted its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 226.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,219 shares of the financial services provider's stock after acquiring an additional 48,702 shares during the quarter. Victory Capital Management Inc. owned 0.06% of OneMain worth $3,432,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OMF. Alpine Bank Wealth Management acquired a new position in OneMain in the 1st quarter valued at $27,000. GAMMA Investing LLC raised its holdings in OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 662 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in OneMain in the 1st quarter valued at $54,000. Fourth Dimension Wealth LLC acquired a new position in OneMain in the 4th quarter valued at $57,000. Finally, Farther Finance Advisors LLC grew its stake in shares of OneMain by 198.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider's stock valued at $82,000 after buying an additional 1,110 shares during the period. Hedge funds and other institutional investors own 85.82% of the company's stock.

Wall Street Analysts Forecast Growth

OMF has been the subject of several research reports. Northland Capmk raised shares of OneMain from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $65.00 price objective on shares of OneMain in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted 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. Barclays boosted their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, OneMain currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.78.

OneMain Trading Down 0.0%

NYSE:OMF traded down $0.02 on Thursday, reaching $57.65. The stock had a trading volume of 172,310 shares, compared to its average volume of 1,115,475. The company has a 50-day moving average of $55.34 and a 200 day moving average of $52.33. The stock has a market cap of $6.86 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.46 and a beta of 1.32. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $60.33.

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 for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. OneMain had a net margin of 12.63% and a return on equity of 20.77%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 EPS. On average, equities analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $4.16 dividend on an annualized basis and a yield of 7.22%. OneMain's payout ratio is currently 75.09%.

Insider Transactions at OneMain

In other news, CEO Douglas H. Shulman sold 20,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $52.56, for a total value of $1,051,200.00. Following the sale, the chief executive officer owned 323,925 shares in the company, valued at approximately $17,025,498. This represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $52.21, for a total transaction of $261,050.00. Following the completion of the sale, the chief operating officer owned 108,007 shares in the company, valued at approximately $5,639,045.47. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,000 shares of company stock valued at $1,894,940. 0.40% of the stock is currently owned by corporate insiders.

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.