Geode Capital Management LLC Grows Stake in OneMain Holdings, Inc. $OMF

Geode Capital Management LLC increased its stake in OneMain Holdings, Inc. (NYSE:OMF) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,422,562 shares of the financial services provider’s stock after acquiring an additional 15,941 shares during the period. Geode Capital Management LLC owned approximately 2.06% of OneMain worth $164,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMF. Certuity LLC grew its position in OneMain by 107.6% in 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 boosted its position in shares of 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 valued at $110,958,000 after buying an additional 713,670 shares during the period. Qube Research & Technologies Ltd boosted its position 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 buying an additional 532,324 shares during the period. AQR Capital Management LLC boosted its position in shares of OneMain by 48.2% during the third quarter. AQR Capital Management LLC now owns 1,310,435 shares of the financial services provider’s stock valued at $73,987,000 after buying an additional 426,088 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of OneMain by 547.8% during the second quarter. Ameriprise Financial Inc. now owns 437,706 shares of the financial services provider’s stock valued at $24,947,000 after buying an additional 370,133 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Performance

OneMain stock opened at $53.43 on Thursday. The company has a 50 day moving average price of $55.33 and a 200-day moving average price of $59.55. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The company has a market capitalization of $6.17 billion, a PE ratio of 7.95, a P/E/G ratio of 0.40 and a beta of 1.24.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share 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 the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that OneMain Holdings, Inc. will post 7.39 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Monday, May 11th. OneMain’s payout ratio is currently 62.50%.

Insider Buying and Selling at OneMain

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

Analyst Ratings Changes

Several research analysts have issued reports on OMF shares. Barclays dropped their target price on OneMain from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Evercore set a $55.00 target price on OneMain in a research report on Tuesday, March 17th. BTIG Research restated a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. Royal Bank Of Canada dropped their target price on OneMain from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, Truist Financial dropped their target price on OneMain from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.30.

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.