State of Wyoming Makes New Investment in OneMain Holdings, Inc. $OMF

State of Wyoming acquired a new position in OneMain Holdings, Inc. (NYSE:OMF) during the second quarter, HoldingsChannel reports. The firm acquired 30,052 shares of the financial services provider’s stock, valued at approximately $1,832,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the period. Core Wealth Advisors LLC purchased a new stake in OneMain during the fourth quarter worth approximately $31,000. Atlantic Union Bankshares Corp purchased a new stake in OneMain during the fourth quarter worth approximately $36,000. Transamerica Financial Advisors LLC increased its position in shares of OneMain by 88.2% in 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 in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of OneMain in the third quarter worth $46,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OMF shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research note on Friday, July 10th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Truist Financial increased their price target on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Barclays reduced their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. Eight equities 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. Based on data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and an average target price of $68.40.

Insiders Place Their Bets

In other news, SVP Michael A. Hedlund sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was 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 $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares of the company’s stock, valued at $5,967,500. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,348 shares of company stock worth $911,576 in the last quarter. 0.29% of the stock is currently owned by company insiders.

OneMain Stock Up 0.6%

OMF opened at $65.66 on Friday. The firm has a market capitalization of $7.55 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.50 and a beta of 1.21. The firm’s 50 day moving average is $60.41 and its 200-day moving average is $57.67. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. The business 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 business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 earnings per share. Equities analysts expect that OneMain Holdings, Inc. will post 7.12 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.4%. OneMain’s payout ratio is 63.25%.

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.