Norges Bank Takes $100.31 Million Position in OneMain Holdings, Inc. $OMF

Norges Bank purchased a new stake in OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,484,999 shares of the financial services provider’s stock, valued at approximately $100,312,000.

A number of other institutional investors have also made changes to their positions in OMF. Atlantic Union Bankshares Corp bought a new stake in shares of OneMain in the 4th quarter valued at approximately $36,000. Sunbelt Securities Inc. bought a new stake in shares of OneMain in the 3rd quarter valued at approximately $46,000. Spire Wealth Management increased its holdings in shares of OneMain by 83.2% in the 4th quarter. Spire Wealth Management now owns 700 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 318 shares during the last quarter. Activest Wealth Management increased its holdings in shares of OneMain by 37.6% in the 4th quarter. Activest Wealth Management now owns 794 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 217 shares during the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of OneMain in the 4th quarter valued at approximately $58,000. 85.82% of the stock is currently owned by institutional investors.

OneMain Stock Performance

NYSE:OMF opened at $55.41 on Friday. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.41 and a beta of 1.24. The business has a fifty day moving average of $55.42 and a 200-day moving average of $59.50.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that OneMain Holdings, Inc. will post 7.38 EPS for the current year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were paid a $1.05 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $4.20 annualized dividend and a dividend yield of 7.6%. OneMain’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

OMF has been the subject of a number of research analyst reports. Evercore set a $55.00 price target on OneMain in a report on Tuesday, March 17th. Wells Fargo & Company lowered their price objective on OneMain from $70.00 to $65.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on OneMain from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Stephens lowered their price objective on OneMain to $76.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. lowered their price objective on OneMain from $63.00 to $55.00 and set an “underweight” rating for the company in a research note on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average price target of $68.30.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief operating officer owned 101,250 shares in the company, valued at $6,075,000. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently 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.