Weiss Asset Management LP purchased a new position in OneMain Holdings, Inc. (NYSE:OMF – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,115 shares of the financial services provider’s stock, valued at approximately $648,000.
A number of other hedge funds have also recently made changes to their positions in OMF. Csenge Advisory Group lifted its holdings in OneMain by 4.1% during the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock valued at $286,000 after buying an additional 167 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in OneMain by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 174 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in OneMain by 9.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 176 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of OneMain by 1.7% during the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 189 shares during the period. Finally, Generali Asset Management SPA SGR increased its position in shares of OneMain by 5.9% during the fourth quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 190 shares during the period. 85.82% of the stock is currently owned by institutional investors.
OneMain Stock Up 2.3%
OneMain stock opened at $61.13 on Tuesday. The business has a fifty day moving average of $57.59 and a two-hundred day moving average of $57.82. The firm has a market cap of $7.06 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.46 and a beta of 1.22. OneMain Holdings, Inc. has a twelve month low of $45.78 and a twelve month high of $71.93.
OneMain Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 dividend on an annualized basis and a yield of 6.9%. OneMain’s dividend payout ratio (DPR) is presently 62.50%.
Insider Activity
In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the transaction, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $114,576.00. Following the completion of the transaction, the senior vice president owned 13,127 shares of the company’s stock, valued at $813,874. This represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on OMF. BTIG Research reaffirmed a “neutral” rating on shares of OneMain in a research note on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. TD Cowen raised their price objective on OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company decreased their target price on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Finally, Truist Financial lowered their target price on OneMain from $73.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.80.
Check Out Our Latest Analysis on OneMain
About OneMain
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.
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