OneMain Holdings, Inc. $OMF Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in OneMain Holdings, Inc. (NYSE:OMF) by 3.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 497,107 shares of the financial services provider’s stock after selling 15,799 shares during the period. Principal Financial Group Inc.’s holdings in OneMain were worth $26,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OMF. CIBC Private Wealth Group LLC grew its holdings in shares of OneMain by 117.4% during the fourth 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 purchased a new position in shares of OneMain in the fourth quarter worth about $31,000. Atlantic Union Bankshares Corp purchased a new position in shares of OneMain in the fourth quarter worth about $36,000. Transamerica Financial Advisors LLC boosted its position in 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, Spire Wealth Management boosted its position in OneMain by 83.2% during the fourth quarter. Spire Wealth Management now owns 700 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 318 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Stock Performance

Shares of OMF stock opened at $60.22 on Tuesday. The firm’s 50 day moving average price is $56.93 and its 200-day moving average price is $58.15. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93. The firm has a market cap of $6.96 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.46 and a beta of 1.22.

OneMain (NYSE:OMF) last posted 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. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts predict that OneMain Holdings, Inc. will post 7.19 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Monday, May 11th. OneMain’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore set a $66.00 price objective on shares of OneMain in a report on Monday, July 6th. JPMorgan Chase & Co. decreased their target price on shares of OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. BTIG Research restated a “neutral” rating on shares of OneMain in a report on Thursday, April 16th. 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. Finally, Truist Financial cut their price target on OneMain from $73.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.80.

Insider Buying and Selling at OneMain

In related news, SVP Michael A. Hedlund sold 1,848 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $114,576.00. Following the sale, the senior vice president owned 13,127 shares in the company, valued at approximately $813,874. The trade was a 12.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

About OneMain

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.