Arrowstreet Capital Limited Partnership Has $121.33 Million Stake in OneMain Holdings, Inc. $OMF

Arrowstreet Capital Limited Partnership reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 1.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,268,319 shares of the financial services provider’s stock after selling 42,194 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in OneMain were worth $121,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of OneMain by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Core Wealth Advisors LLC bought a new position in shares of OneMain in the 4th quarter valued at approximately $31,000. Atlantic Union Bankshares Corp bought a new position in shares of OneMain in the 4th quarter valued at approximately $36,000. Transamerica Financial Advisors LLC lifted its holdings in OneMain by 88.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in OneMain during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Trading Up 1.6%

Shares of OneMain stock opened at $59.72 on Friday. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The company’s fifty day simple moving average is $57.44 and its 200-day simple moving average is $57.98. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 0.46 and a beta of 1.22.

OneMain (NYSE:OMF) last released its earnings results on Friday, May 1st. The financial services provider reported $1.95 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 prior year, the company earned $1.72 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts forecast that OneMain Holdings, Inc. will post 7.14 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.0%. OneMain’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several brokerages have commented on OMF. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a report on Friday, July 10th. Royal Bank Of Canada decreased their price objective on shares of OneMain from $73.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Barclays cut their target price on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lowered their price target on OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and an average price target of $67.80.

Insider Transactions at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the transaction, the chief operating officer owned 96,250 shares of the company’s stock, valued at $5,967,500. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $114,576.00. Following the completion of the sale, the senior vice president owned 13,127 shares of the company’s stock, valued at $813,874. This represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by corporate insiders.

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.