The Manufacturers Life Insurance Company Takes Position in OneMain Holdings, Inc. $OMF

The Manufacturers Life Insurance Company acquired a new position in OneMain Holdings, Inc. (NYSE:OMF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,262 shares of the financial services provider’s stock, valued at approximately $2,150,000.

A number of other hedge funds have also recently made changes to their positions in OMF. BlackRock Inc. acquired a new stake in OneMain in the 2nd quarter valued at approximately $633,893,000. Dimensional Fund Advisors LP boosted its position in shares of OneMain by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock worth $232,258,000 after buying an additional 308,370 shares during the period. Janus Henderson Group PLC boosted its position in shares of OneMain by 7.7% during the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock worth $146,030,000 after buying an additional 195,591 shares during the period. Geode Capital Management LLC grew its stake in shares of OneMain by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider’s stock valued at $164,017,000 after buying an additional 15,941 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of OneMain by 17.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,310,513 shares of the financial services provider’s stock valued at $156,075,000 after buying an additional 345,269 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

OMF has been the topic of several research reports. Royal Bank Of Canada increased their target price on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Citizens Jmp lifted their target price on OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Evercore set a $66.00 price target on shares of OneMain in a research note on Monday, July 6th. TD Cowen increased their price target on shares of OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research note on Friday, July 10th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, OneMain currently has a consensus 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 OneMain 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 of the company’s stock, valued at $680,128. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the transaction, the chief operating officer directly owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. This represents a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,348 shares of company stock valued at $911,576 over the last ninety days. 0.29% of the stock is owned by company insiders.

OneMain Stock Up 3.5%

NYSE OMF opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 52 week low of $45.78 and a 52 week high of $71.93. The firm has a 50 day moving average of $62.02 and a two-hundred day moving average of $57.64. The stock has a market capitalization of $7.28 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.22.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. On average, equities research analysts expect that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.6%. OneMain’s dividend payout ratio (DPR) is currently 63.25%.

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.