QRG Capital Management Inc. Reduces Holdings in OneMain Holdings, Inc. $OMF

QRG Capital Management Inc. cut its position in OneMain Holdings, Inc. (NYSE:OMF) by 23.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,078 shares of the financial services provider’s stock after selling 15,450 shares during the quarter. QRG Capital Management Inc.’s holdings in OneMain were worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OMF. Evergreen Capital Management LLC lifted its holdings in OneMain by 2.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 10,579 shares of the financial services provider’s stock worth $597,000 after buying an additional 233 shares in the last quarter. Csenge Advisory Group purchased a new stake in shares of OneMain during the third quarter worth about $230,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of OneMain in the third quarter worth about $907,000. Impact Capital Partners LLC boosted its holdings in OneMain by 10.5% in the third quarter. Impact Capital Partners LLC now owns 58,372 shares of the financial services provider’s stock valued at $3,296,000 after purchasing an additional 5,559 shares during the last quarter. Finally, WESPAC Advisors LLC acquired a new stake in OneMain during the 3rd quarter valued at approximately $706,000. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Stock Up 0.7%

NYSE:OMF opened at $65.50 on Monday. The business’s 50-day moving average price is $65.17 and its 200 day moving average price is $60.72. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $71.93. The firm has a market cap of $7.71 billion, a P/E ratio of 11.10, a PEG ratio of 0.36 and a beta of 1.33.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.32. The company had revenue of $747.00 million during the quarter, compared to analyst estimates of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same quarter last year, the firm posted $1.31 EPS. Sell-side analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 6.4%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, November 10th. OneMain’s dividend payout ratio (DPR) is presently 71.19%.

Insider Buying and Selling at OneMain

In other news, SVP Michael A. Hedlund sold 652 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the completion of the sale, the senior vice president directly owned 15,179 shares of the company’s stock, valued at $941,098. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 57,500 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $68.41, for a total value of $3,933,575.00. Following the completion of the transaction, the chief executive officer owned 174,100 shares of the company’s stock, valued at $11,910,181. This trade represents a 24.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 98,152 shares of company stock valued at $6,353,899. Corporate insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OMF. Barclays boosted their target price on shares of OneMain from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. JMP Securities set a $68.00 price target on OneMain in a report on Monday, November 24th. Citizens Jmp decreased their target price on shares of OneMain from $70.00 to $68.00 and set a “market outperform” rating for the company in a research report on Monday, November 24th. Royal Bank Of Canada raised their target price on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, TD Cowen upped their price target on shares of OneMain from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, OneMain has a consensus rating of “Moderate Buy” and an average price target of $71.30.

OneMain 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.