Clearbridge Investments LLC Reduces Position in OneMain Holdings, Inc. $OMF

Clearbridge Investments LLC lessened its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,815,808 shares of the financial services provider’s stock after selling 497,501 shares during the period. Clearbridge Investments LLC owned approximately 1.55% of OneMain worth $122,658,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in OneMain by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock worth $16,370,000 after purchasing an additional 72,688 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in OneMain by 24.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider’s stock worth $17,945,000 after purchasing an additional 50,521 shares during the last quarter. American Century Companies Inc. grew its position in OneMain by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 1,065,463 shares of the financial services provider’s stock worth $60,156,000 after purchasing an additional 35,126 shares during the last quarter. Dimensional Fund Advisors LP grew its position in OneMain by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider’s stock worth $224,723,000 after purchasing an additional 63,774 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of OneMain in the 3rd quarter valued at $1,107,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

OMF opened at $55.41 on Monday. The firm has a fifty day moving average price of $55.42 and a 200 day moving average price of $59.51. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The stock has a market cap of $6.40 billion, a P/E ratio of 8.25, a P/E/G ratio of 0.41 and a beta of 1.24.

OneMain (NYSE:OMF) last posted its earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.09. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business posted $1.72 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that OneMain Holdings, Inc. will post 7.38 EPS for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, May 11th. OneMain’s payout ratio is currently 62.50%.

Analyst Ratings Changes

Several research firms have recently commented on OMF. Royal Bank Of Canada dropped their price objective on shares of OneMain from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of OneMain from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Evercore set a $55.00 price objective on shares of OneMain in a report on Tuesday, March 17th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.30.

Insider Activity

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief operating officer directly owned 101,250 shares of the company’s stock, valued at $6,075,000. This represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by corporate insiders.

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.