Legal & General Group Plc Takes Position in OneMain Holdings, Inc. $OMF

Legal & General Group Plc acquired a new position in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 122,440 shares of the financial services provider’s stock, valued at approximately $7,465,000. Legal & General Group Plc owned approximately 0.11% of OneMain at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OMF. BlackRock Inc. bought a new stake in OneMain during the 2nd quarter valued at $633,893,000. Dimensional Fund Advisors LP boosted its position in OneMain by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock worth $232,258,000 after acquiring an additional 308,370 shares during the period. Janus Henderson Group PLC grew its stake in shares of OneMain by 7.7% in the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock worth $146,030,000 after purchasing an additional 195,591 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of OneMain by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider’s stock valued at $164,017,000 after purchasing an additional 15,941 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of OneMain by 17.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,310,513 shares of the financial services provider’s stock valued at $156,075,000 after purchasing an additional 345,269 shares during the period. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OMF. Royal Bank Of Canada lifted their price objective on shares of OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Barclays decreased 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. Citizens Jmp raised their target price on shares of OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Finally, Evercore set a $66.00 price target on shares of OneMain in a research note on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average price target of $68.40.

OneMain Trading Up 3.5%

NYSE OMF opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The company has a market cap of $7.28 billion, a PE ratio of 9.53, a PEG ratio of 0.47 and a beta of 1.22. The stock’s 50-day moving average price is $62.02 and its two-hundred day moving average price is $57.64.

OneMain (NYSE:OMF) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the company posted $1.45 earnings per share. Research analysts forecast that OneMain Holdings, Inc. will post 7.11 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.6%. OneMain’s dividend payout ratio (DPR) is currently 63.25%.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. The trade was a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,348 shares of company stock valued at $911,576 in the last ninety days. Company insiders own 0.29% of the company’s stock.

OneMain Company 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.