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

Pallas Capital Advisors LLC acquired a new position in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,496 shares of the financial services provider’s stock, valued at approximately $762,000.

A number of other institutional investors also recently made changes to their positions in OMF. CIBC Private Wealth Group LLC raised its position 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 purchasing an additional 202 shares during the period. Core Wealth Advisors LLC bought a new stake in OneMain in the fourth quarter worth $31,000. Atlantic Union Bankshares Corp purchased a new stake in OneMain during the fourth quarter valued at 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 valued at $45,000 after buying an additional 314 shares during the period. Finally, Activest Wealth Management grew its stake in shares of OneMain by 37.6% during the fourth quarter. Activest Wealth Management now owns 794 shares of the financial services provider’s stock valued at $54,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Down 0.5%

Shares of OneMain stock opened at $64.81 on Wednesday. The firm has a market cap of $7.46 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.50 and a beta of 1.21. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The company’s fifty day simple moving average is $60.81 and its two-hundred day simple moving average is $57.61.

OneMain (NYSE:OMF) last released 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. The firm had revenue of $1.62 billion for 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 company’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 company earned $1.45 earnings per share. As a group, sell-side analysts expect that OneMain Holdings, Inc. will post 7.12 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Monday, August 10th. OneMain’s payout ratio is currently 63.25%.

Wall Street Analysts Forecast Growth

OMF has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. TD Cowen increased their target price on OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Evercore set a $66.00 price target on OneMain in a research report on Monday, July 6th. Royal Bank Of Canada lifted their price target on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Citizens Jmp lifted their price target on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.40.

Insider Transactions at OneMain

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the 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 completion of the sale, the senior vice president owned 10,627 shares in the company, valued at approximately $680,128. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the sale, the chief operating officer owned 96,250 shares in the company, valued at approximately $5,967,500. This represents a 4.94% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is owned by company insiders.

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.