VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in OneMain Holdings, Inc. $OMF

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 26,600 shares of the financial services provider’s stock, valued at approximately $1,622,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OMF. BlackRock Inc. acquired a new position in OneMain in the 2nd quarter valued at about $633,893,000. California State Teachers Retirement System lifted its position in shares of OneMain by 5,748.8% during the second quarter. California State Teachers Retirement System now owns 8,245,644 shares of the financial services provider’s stock worth $502,737,000 after purchasing an additional 8,104,663 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 purchasing an additional 308,370 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of OneMain by 7.7% in the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock valued at $146,030,000 after purchasing an additional 195,591 shares during the period. Finally, Jupiter Topco LLC purchased a new position in shares of OneMain in the second quarter valued at approximately $166,060,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were 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 approximately $680,128. This represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $310,000.00. Following the transaction, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,348 shares of company stock worth $911,576. Corporate insiders own 0.29% of the company’s stock.

OneMain Stock Performance

Shares of NYSE:OMF opened at $62.79 on Friday. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93. The company has a 50-day simple moving average of $62.45 and a 200-day simple moving average of $57.95. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.48 and a beta of 1.22.

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, topping the consensus estimate of $1.26 by $0.05. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.OneMain’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. As a group, research analysts forecast that OneMain Holdings, Inc. will post 7.11 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Monday, August 10th. OneMain’s payout ratio is currently 63.25%.

Analyst Ratings Changes

A number of research analysts recently weighed in on OMF shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a report on Friday, July 10th. Barclays decreased their price target on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 7th. TD Cowen boosted their price target on shares of OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Truist Financial upped their price objective on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Tuesday, July 7th. Eight equities research 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.com, OneMain has a consensus rating of “Moderate Buy” and an average target price of $68.40.

OneMain Company Profile

OneMain Holdings, Inc (NYSE: OMF) is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.