Mirae Asset Global Investments Co. Ltd. Buys 26,776 Shares of OneMain Holdings, Inc. $OMF

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 26,776 shares of the financial services provider’s stock, valued at approximately $1,483,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GK Wealth Management LLC bought a new position in shares of OneMain in the 3rd quarter valued at about $45,000. Freestone Grove Partners LP bought a new stake in shares of OneMain in the 2nd quarter valued at about $61,000. Parkside Financial Bank & Trust raised its holdings in shares of OneMain by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,011 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 246 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of OneMain by 37.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,180 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 320 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in OneMain in the 2nd quarter valued at about $73,000. 85.82% of the stock is owned by institutional investors.

OneMain Price Performance

NYSE:OMF opened at $56.12 on Friday. The company has a market cap of $6.42 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.65 and a beta of 1.30. The firm’s fifty day moving average price is $58.39 and its two-hundred day moving average price is $58.25. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93.

OneMain (NYSE:OMF) last posted its earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.05). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.34 billion. OneMain had a return on equity of 21.90% and a net margin of 13.43%. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, equities research analysts expect that OneMain Holdings, Inc. will post 6.59 earnings per share for the current year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 9th will be paid a $1.05 dividend. The ex-dividend date is Monday, November 9th. This represents a $4.20 dividend on an annualized basis and a yield of 7.5%. OneMain’s dividend payout ratio is 63.93%.

Wall Street Analyst Weigh In

OMF has been the subject of a number of research analyst reports. Weiss Ratings upgraded OneMain from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Bank of America dropped their price objective on OneMain from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. JPMorgan Chase & Co. raised their price objective on OneMain from $52.00 to $56.00 and gave the company an “underweight” rating in a research report on Monday, November 2nd. TD Cowen reduced their target price on OneMain from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada reduced their target price on OneMain from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Monday, November 2nd. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average price target of $66.82.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain’s principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.