OneMain Holdings, Inc. $OMF Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in OneMain Holdings, Inc. (NYSE:OMF) by 33.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,943 shares of the financial services provider’s stock after purchasing an additional 72,688 shares during the period. JPMorgan Chase & Co.’s holdings in OneMain were worth $16,370,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OMF. Root Financial Partners LLC purchased a new position in OneMain in the 3rd quarter valued at $26,000. Activest Wealth Management lifted its stake in shares of OneMain by 1,102.1% in the 3rd quarter. Activest Wealth Management now owns 577 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 529 shares during the period. Bayforest Capital Ltd boosted its holdings in shares of OneMain by 591.8% in the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 574 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of OneMain by 57.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 262 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of OneMain by 79.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 363 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stephens lowered their price objective on OneMain to $76.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Citigroup restated a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research report on Monday, December 29th. Truist Financial decreased their target price on shares of OneMain from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of OneMain from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.11.

Insider Buying and Selling at OneMain

In other news, CEO Douglas H. Shulman sold 57,500 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $68.41, for a total transaction of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at $11,910,181. This represents a 24.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. Following the transaction, the chief operating officer directly owned 106,250 shares in the company, valued at approximately $6,162,500. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.

OneMain Trading Down 1.4%

Shares of NYSE OMF opened at $54.85 on Wednesday. The company’s 50-day moving average price is $63.37 and its 200 day moving average price is $61.33. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $71.93. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.32 and a beta of 1.34.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a net margin of 14.35% and a return on equity of 23.76%. During the same period last year, the company posted $1.16 EPS. As a group, research analysts expect that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Tuesday, February 17th. OneMain’s payout ratio is presently 63.93%.

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.