New York State Teachers Retirement System Invests $618,000 in OneMain Holdings, Inc. $OMF

New York State Teachers Retirement System bought a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,942 shares of the financial services provider’s stock, valued at approximately $618,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in OneMain in the 2nd quarter valued at approximately $85,541,000. Brave Warrior Advisors LLC grew its holdings in shares of OneMain by 7.2% during the 2nd quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock worth $448,595,000 after purchasing an additional 526,449 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of OneMain by 547.8% during the second quarter. Ameriprise Financial Inc. now owns 437,706 shares of the financial services provider’s stock valued at $24,947,000 after purchasing an additional 370,133 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of OneMain by 83.2% in the second quarter. Janney Montgomery Scott LLC now owns 480,653 shares of the financial services provider’s stock valued at $27,397,000 after purchasing an additional 218,352 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in OneMain by 44.7% in the second quarter. Bank of America Corp DE now owns 672,170 shares of the financial services provider’s stock worth $38,314,000 after purchasing an additional 207,661 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Stock Down 3.0%

NYSE:OMF opened at $63.42 on Wednesday. The firm has a market cap of $7.47 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.36 and a beta of 1.33. OneMain Holdings, Inc. has a 12 month low of $38.00 and a 12 month high of $71.93. The company’s 50-day moving average price is $65.36 and its two-hundred day moving average price is $60.79.

OneMain (NYSE:OMF) last posted its earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. The company had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a $1.05 dividend. This is an increase from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend was Monday, November 10th. OneMain’s payout ratio is presently 71.19%.

Analyst Ratings Changes

Several brokerages have issued reports on OMF. Evercore ISI set a $75.00 price target on shares of OneMain in a report on Tuesday, January 6th. JMP Securities set a $68.00 target price on shares of OneMain in a research note on Monday, November 24th. Wells Fargo & Company raised their price target on shares of OneMain from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a report on Monday, November 24th. Finally, Barclays upped their price objective on OneMain from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, OneMain has a consensus rating of “Moderate Buy” and a consensus target price of $71.30.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 652 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total transaction of $40,424.00. Following the sale, the senior vice president owned 15,179 shares of the company’s stock, valued at $941,098. This represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $59.20, for a total transaction of $296,000.00. Following the completion of the transaction, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This represents a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 98,152 shares of company stock worth $6,353,899. Insiders own 0.40% of the company’s stock.

OneMain Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.