Allspring Global Investments Holdings LLC Purchases 50,521 Shares of OneMain Holdings, Inc. $OMF

Allspring Global Investments Holdings LLC raised its position in OneMain Holdings, Inc. (NYSE:OMF) by 24.1% during the fourth quarter, Holdings Channel reports. The fund owned 259,803 shares of the financial services provider’s stock after acquiring an additional 50,521 shares during the period. Allspring Global Investments Holdings LLC’s holdings in OneMain were worth $17,945,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OMF. Root Financial Partners LLC bought a new stake in shares of OneMain during the 3rd quarter valued at about $26,000. Activest Wealth Management lifted its stake in shares of OneMain by 1,102.1% in the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 529 shares during the period. Bayforest Capital Ltd lifted its stake in shares of OneMain by 591.8% in the 3rd quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 574 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of OneMain by 57.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock worth $40,000 after buying an additional 262 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of OneMain in the third quarter worth approximately $46,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on OMF shares. Barclays set a $71.00 target price on shares of OneMain in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a research report on Monday, December 29th. Royal Bank Of Canada upped their price objective on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. decreased their target price on OneMain from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Friday, February 6th. Finally, TD Cowen reiterated a “buy” rating on shares of OneMain in a research report on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.89.

OneMain Stock Performance

Shares of OneMain stock opened at $54.12 on Friday. OneMain Holdings, Inc. has a fifty-two week low of $38.00 and a fifty-two week high of $71.93. The company has a market capitalization of $6.34 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.40 and a beta of 1.30. The company has a fifty day moving average of $56.55 and a 200 day moving average of $60.05.

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

OneMain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Tuesday, February 17th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Tuesday, February 17th. OneMain’s dividend payout ratio (DPR) is 63.93%.

Insider Buying and Selling

In related news, COO Micah R. Conrad sold 5,000 shares of the business’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 value of $290,000.00. Following the transaction, the chief operating officer directly owned 106,250 shares of the company’s stock, valued at approximately $6,162,500. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

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.