JPMorgan Chase & Co. Buys 72,688 Shares of OneMain Holdings, Inc. $OMF

JPMorgan Chase & Co. lifted its stake in OneMain Holdings, Inc. (NYSE:OMF) by 33.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,943 shares of the financial services provider’s stock after buying an additional 72,688 shares during the period. JPMorgan Chase & Co. owned about 0.25% of OneMain worth $16,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in OneMain in the 2nd quarter valued at $85,541,000. Certuity LLC raised its stake in OneMain by 107.6% during the third quarter. Certuity LLC now owns 1,930,792 shares of the financial services provider’s stock worth $109,013,000 after acquiring an additional 1,000,654 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in OneMain by 57.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,965,244 shares of the financial services provider’s stock worth $110,958,000 after acquiring an additional 713,670 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of OneMain by 254.2% during the third quarter. Qube Research & Technologies Ltd now owns 741,752 shares of the financial services provider’s stock valued at $41,879,000 after acquiring an additional 532,324 shares during the period. Finally, Brave Warrior Advisors LLC lifted its holdings in shares of OneMain by 7.2% during the second quarter. Brave Warrior Advisors LLC now owns 7,870,085 shares of the financial services provider’s stock valued at $448,595,000 after acquiring an additional 526,449 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OMF shares. Evercore set a $55.00 target price on shares of OneMain in a report on Tuesday, March 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a report on Monday, December 29th. Stephens reduced their price target on shares of OneMain to $76.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Royal Bank Of Canada upped their price objective on shares of OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Wells Fargo & Company dropped their price objective on shares of OneMain from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, OneMain has a consensus rating of “Moderate Buy” and an average price target of $69.89.

OneMain Stock Performance

Shares of OMF stock opened at $53.00 on Friday. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $71.93. The stock has a market capitalization of $6.21 billion, a PE ratio of 8.07, a PEG ratio of 0.39 and a beta of 1.34. The stock’s fifty day moving average is $57.92 and its 200-day moving average is $60.38.

OneMain (NYSE:OMF) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a return on equity of 23.76% and a net margin of 14.35%.During the same period in the previous year, the business posted $1.16 earnings per share. As a group, analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 7.9%. The ex-dividend date was Tuesday, February 17th. OneMain’s dividend payout ratio (DPR) is presently 63.93%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 57,500 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $68.41, for a total value of $3,933,575.00. Following the completion of the transaction, the chief executive officer directly owned 174,100 shares of the company’s stock, valued at approximately $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. Following the transaction, the chief operating officer owned 106,250 shares in the company, valued at $6,162,500. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

OneMain Company 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.