Victory Capital Management Inc. Acquires 48,702 Shares of OneMain Holdings, Inc. (NYSE:OMF)

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. raised its holdings in OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 226.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,219 shares of the financial services provider's stock after buying an additional 48,702 shares during the period. Victory Capital Management Inc. owned about 0.06% of OneMain worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of OneMain by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 11,889,113 shares of the financial services provider's stock valued at $619,779,000 after purchasing an additional 40,042 shares during the last quarter. FMR LLC increased its stake in shares of OneMain by 14.3% in the fourth quarter. FMR LLC now owns 10,835,668 shares of the financial services provider's stock worth $564,863,000 after purchasing an additional 1,352,604 shares in the last quarter. Capital International Investors increased its stake in shares of OneMain by 2.1% in the fourth quarter. Capital International Investors now owns 10,238,425 shares of the financial services provider's stock worth $533,729,000 after purchasing an additional 211,745 shares in the last quarter. Brave Warrior Advisors LLC boosted its position in shares of OneMain by 0.5% in the fourth quarter. Brave Warrior Advisors LLC now owns 7,437,670 shares of the financial services provider's stock valued at $387,726,000 after acquiring an additional 35,448 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of OneMain by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,479,762 shares of the financial services provider's stock valued at $181,402,000 after acquiring an additional 109,182 shares during the period. 85.82% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Micah R. Conrad sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the transaction, the chief operating officer directly owned 98,007 shares of the company's stock, valued at $5,880,420. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 323,925 shares of the company's stock, valued at approximately $17,025,498. This represents a 5.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,000 shares of company stock worth $5,082,190. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Northland Capmk upgraded shares of OneMain from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Northland Securities raised shares of OneMain from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 8th. 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 report on Friday, July 11th. Finally, Barclays boosted 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. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.78.

OneMain Price Performance

OMF opened at $59.37 on Monday. The business's 50-day moving average is $55.05 and its two-hundred day moving average is $52.23. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.33. The firm has a market capitalization of $7.06 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.47 and a beta of 1.32.

OneMain (NYSE:OMF - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a return on equity of 20.77% and a net margin of 12.63%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business earned $1.02 earnings per share. OneMain's quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 7.01%. OneMain's dividend payout ratio (DPR) is 87.95%.

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.

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