The Manufacturers Life Insurance Company Makes New Investment in OneMain Holdings, Inc. $OMF

The Manufacturers Life Insurance Company bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 35,262 shares of the financial services provider’s stock, valued at approximately $2,150,000.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays dropped their price target on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Citizens Jmp boosted their price target on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Evercore set a $66.00 price objective on shares of OneMain in a report on Monday, July 6th. Finally, Royal Bank Of Canada boosted their target price on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $68.40.

Insider Activity at OneMain

In related news, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at $5,967,750. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 14,348 shares of company stock valued at $911,576. Corporate insiders own 0.29% of the company’s stock.

OneMain Stock Up 3.5%

NYSE OMF opened at $63.25 on Thursday. The business’s fifty day simple moving average is $62.02 and its 200-day simple moving average is $57.64. The firm has a market cap of $7.28 billion, a PE ratio of 9.53, a P/E/G ratio of 0.47 and a beta of 1.22. OneMain Holdings, Inc. has a 52 week low of $45.78 and a 52 week high of $71.93.

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

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 6.6%. OneMain’s dividend payout ratio is 63.25%.

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.