Financiere des Professionnels Fonds d investissement inc. Takes Position in OneMain Holdings, Inc. $OMF

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,614 shares of the financial services provider’s stock, valued at approximately $1,638,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in OneMain by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of OneMain during the fourth quarter valued at about $31,000. Atlantic Union Bankshares Corp purchased a new stake in shares of OneMain during the fourth quarter worth about $36,000. Transamerica Financial Advisors LLC increased its position in shares of OneMain by 88.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of OneMain in the third quarter worth about $46,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

Shares of OMF opened at $60.30 on Friday. The stock has a market capitalization of $6.97 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22. The business’s fifty day moving average price is $56.79 and its 200 day moving average price is $58.28. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93.

OneMain (NYSE:OMF) last released its 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. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, research analysts anticipate that OneMain Holdings, Inc. will post 7.19 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were issued a $1.05 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 annualized dividend and a dividend yield of 7.0%. OneMain’s payout ratio is 62.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Barclays dropped their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. TD Cowen upped their target price on OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. reduced their target price on OneMain from $63.00 to $55.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. Finally, Wells Fargo & Company decreased their price target on shares of OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.80.

Insider Transactions at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $114,576.00. Following the completion of the transaction, the senior vice president directly owned 13,127 shares in the company, valued at $813,874. This represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by corporate insiders.

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.