Meadow Creek Investment Management LLC Purchases 24,080 Shares of OneMain Holdings Inc (NYSE:OMF)
Meadow Creek Investment Management LLC boosted its position in shares of OneMain Holdings Inc (NYSE:OMF) by 94.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,680 shares of the financial services provider’s stock after buying an additional 24,080 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in OneMain were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of OneMain by 7.1% in the second quarter. Comerica Bank now owns 180,855 shares of the financial services provider’s stock valued at $6,151,000 after purchasing an additional 12,062 shares during the last quarter. Bayview Asset Management LLC acquired a new position in shares of OneMain in the second quarter valued at $27,473,000. Marshall Wace North America L.P. acquired a new position in shares of OneMain in the first quarter valued at $3,604,000. AJO LP acquired a new position in shares of OneMain in the first quarter valued at $7,437,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of OneMain in the first quarter valued at $759,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on OMF. Barclays restated a “hold” rating on shares of OneMain in a research note on Sunday, August 4th. Zacks Investment Research upgraded shares of OneMain from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Friday, August 2nd. Wedbush upgraded shares of OneMain from a “neutral” rating to an “outperform” rating and upped their price target for the company from $35.00 to $45.00 in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upgraded shares of OneMain from a “neutral” rating to an “overweight” rating and upped their price target for the company from $37.50 to $41.00 in a research note on Tuesday, July 16th. Finally, Cowen decreased their price target on shares of OneMain from $10.00 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.27.
OneMain (NYSE:OMF) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.27. The firm had revenue of $762.00 million for the quarter, compared to the consensus estimate of $743.08 million. OneMain had a net margin of 15.98% and a return on equity of 19.99%. During the same period in the prior year, the company posted $1.18 earnings per share. On average, sell-side analysts predict that OneMain Holdings Inc will post 6.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.58%. OneMain’s payout ratio is 19.76%.
OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.
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