Voya Investment Management LLC Purchases 21,830 Shares of OneMain Holdings, Inc. $OMF

Key Points

• Voya Investment Management LLC increased its stake in OneMain Holdings by 24.3%, acquiring an additional 21,830 shares, bringing its total ownership to 111,702 shares valued at approximately $5.46 million.
• Analysts have raised their price targets for OneMain, with Barclays setting a new target at $56.00 and JPMorgan increasing it to $63.00, reflecting positive sentiment towards the stock.
• OneMain recently disclosed a quarterly dividend of $1.04 per share, translating to an annual yield of 6.8%, reinforcing its attractiveness to income-focused investors.

Voya Investment Management LLC raised its position in shares of OneMain Holdings, Inc. (NYSE:OMF - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,702 shares of the financial services provider's stock after buying an additional 21,830 shares during the quarter. Voya Investment Management LLC owned about 0.09% of OneMain worth $5,460,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in OneMain in the 1st quarter valued at about $27,000. SVB Wealth LLC acquired a new stake in shares of OneMain during the 1st quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in OneMain during the first quarter valued at about $42,000. Headlands Technologies LLC purchased a new stake in shares of OneMain during the 1st quarter worth about $46,000. Finally, GAMMA Investing LLC grew its holdings in shares of OneMain by 191.9% during the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider's stock worth $49,000 after purchasing an additional 662 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction, 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 4,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.02, for a total value of $232,080.00. Following the completion of the transaction, the chief operating officer owned 101,007 shares of the company's stock, valued at $5,860,426.14. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,000 shares of company stock worth $2,664,140. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OMF. Barclays upped their price objective on OneMain from $48.00 to $56.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company assumed coverage on shares of OneMain in a research note on Monday, August 25th. They issued an "equal weight" rating for the company. Finally, JPMorgan Chase & Co. lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.50.

OneMain Stock Down 1.3%

Shares of OMF stock traded down $0.79 during mid-day trading on Friday, reaching $60.80. 1,309,774 shares of the stock traded hands, compared to its average volume of 752,091. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. The stock's fifty day simple moving average is $59.07 and its two-hundred day simple moving average is $53.43. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $63.24.

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, topping the consensus estimate of $1.25 by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The business's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

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

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.