Pallas Capital Advisors LLC Makes New Investment in OneMain Holdings, Inc. $OMF

Pallas Capital Advisors LLC bought a new position in OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 12,496 shares of the financial services provider’s stock, valued at approximately $762,000.

Other large investors have also recently modified their holdings of the company. Csenge Advisory Group increased its position in shares of OneMain by 4.1% during the fourth quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock valued at $286,000 after buying an additional 167 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in OneMain by 4.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock worth $275,000 after buying an additional 174 shares during the period. Geneos Wealth Management Inc. lifted its holdings in OneMain by 9.1% in the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock worth $120,000 after buying an additional 176 shares during the period. New York State Teachers Retirement System boosted its position in OneMain by 1.7% during the 1st quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 189 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its position in OneMain by 5.9% during the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OMF shares. Truist Financial increased their target price on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Evercore set a $66.00 price target on OneMain in a research report on Monday, July 6th. Barclays dropped their price target on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 7th. Royal Bank Of Canada increased their price objective on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

Insider Buying and Selling

In other OneMain news, 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 completion of the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the sale, the chief operating officer owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 14,348 shares of company stock valued at $911,576. 0.29% of the stock is currently owned by insiders.

OneMain Stock Performance

Shares of OMF stock opened at $64.81 on Wednesday. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.50 and a beta of 1.21. The company’s 50-day moving average is $60.81 and its 200 day moving average is $57.61. OneMain Holdings, Inc. has a one year low of $45.78 and a one year 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 for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.45 EPS. As a group, research analysts predict that OneMain Holdings, Inc. will post 7.12 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business 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 was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.5%. OneMain’s payout ratio is currently 63.25%.

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.