Bank of New York Mellon Corp Sells 17,288 Shares of OneMain Holdings, Inc. $OMF

Bank of New York Mellon Corp lessened its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,051,847 shares of the financial services provider’s stock after selling 17,288 shares during the period. Bank of New York Mellon Corp’s holdings in OneMain were worth $71,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new stake in shares of OneMain during the fourth quarter valued at approximately $31,000. Atlantic Union Bankshares Corp bought a new position in OneMain in the fourth quarter worth approximately $36,000. Spire Wealth Management raised its stake in OneMain by 83.2% in the fourth quarter. Spire Wealth Management now owns 700 shares of the financial services provider’s stock worth $47,000 after buying an additional 318 shares in the last quarter. Activest Wealth Management raised its stake in OneMain by 37.6% in the fourth quarter. Activest Wealth Management now owns 794 shares of the financial services provider’s stock worth $54,000 after buying an additional 217 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in OneMain in the fourth quarter worth approximately $58,000. Institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 101,250 shares in the company, valued at $6,075,000. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by company insiders.

OneMain Price Performance

NYSE OMF opened at $55.81 on Wednesday. The company has a market capitalization of $6.45 billion, a PE ratio of 8.30, a P/E/G ratio of 0.40 and a beta of 1.24. The company has a fifty day moving average of $55.52 and a 200 day moving average of $59.47. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93.

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 analysts’ consensus estimates of $1.86 by $0.09. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. Research analysts expect that OneMain Holdings, Inc. will post 7.38 earnings per share for the current year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Monday, May 11th. OneMain’s dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OMF shares. Evercore set a $55.00 price objective on shares of OneMain in a research note on Tuesday, March 17th. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price target on shares of OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a report on Thursday, April 9th. BTIG Research reissued a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. Finally, 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. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.