Basswood Capital Management L.L.C. increased its holdings in OneMain Holdings Inc (NYSE:OMF) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,750,469 shares of the financial services provider’s stock after acquiring an additional 153,633 shares during the period. OneMain comprises approximately 3.9% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 3rd biggest holding. Basswood Capital Management L.L.C. owned about 2.03% of OneMain worth $66,809,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in shares of OneMain in the fourth quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new position in OneMain during the fourth quarter valued at $37,000. Meeder Asset Management Inc. grew its holdings in OneMain by 36.7% during the fourth quarter. Meeder Asset Management Inc. now owns 2,142 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 575 shares during the period. Quantamental Technologies LLC bought a new position in OneMain during the fourth quarter valued at $100,000. Finally, Commonwealth Bank of Australia grew its holdings in OneMain by 20.5% during the fourth quarter. Commonwealth Bank of Australia now owns 10,000 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 1,700 shares during the period. 92.29% of the stock is owned by institutional investors.
Several brokerages have weighed in on OMF. TheStreet raised OneMain from a “c+” rating to a “b-” rating in a report on Tuesday, February 19th. BTIG Research began coverage on OneMain in a report on Friday, February 22nd. They set a “buy” rating and a $43.00 price objective for the company. Zacks Investment Research raised OneMain from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Saturday, February 16th. BMO Capital Markets increased their price objective on OneMain from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Finally, JMP Securities increased their price objective on OneMain from $39.00 to $44.00 and gave the company a “market outperform” rating in a report on Wednesday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.90.
NYSE:OMF opened at $33.99 on Friday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 0.78 and a beta of 2.52. OneMain Holdings Inc has a 1 year low of $22.47 and a 1 year high of $37.29.
OneMain (NYSE:OMF) last posted its earnings results on Monday, February 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $882.00 million for the quarter, compared to the consensus estimate of $730.46 million. OneMain had a return on equity of 19.23% and a net margin of 11.30%. As a group, sell-side analysts forecast that OneMain Holdings Inc will post 5.65 EPS for the current year.
The business also recently announced a special dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 25th. OneMain’s dividend payout ratio is currently 19.76%.
OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.
Further Reading: Ex-Dividend
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