Vestcor Inc Increases Stock Position in OneMain Holdings, Inc. $OMF

Vestcor Inc lifted its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 174.9% during the third quarter, Holdings Channel reports. The firm owned 24,667 shares of the financial services provider’s stock after acquiring an additional 15,694 shares during the period. Vestcor Inc’s holdings in OneMain were worth $1,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in OneMain in the 3rd quarter worth about $26,000. Activest Wealth Management boosted 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 buying an additional 529 shares during the last quarter. Bayforest Capital Ltd boosted its stake in shares of OneMain by 591.8% in the 3rd quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock worth $38,000 after buying an additional 574 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of OneMain by 57.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 718 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 262 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 valued at $47,000 after acquiring an additional 363 shares during the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

OMF has been the topic of a number of recent analyst reports. Stephens dropped their price target on OneMain to $76.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Evercore set a $75.00 target price on OneMain in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Monday, December 29th. Barclays set a $71.00 price target on shares of OneMain in a report on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of OneMain in a report on Thursday, January 8th. Eight investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $72.11.

OneMain Trading Down 0.3%

Shares of NYSE OMF opened at $53.78 on Thursday. The stock has a fifty day simple moving average of $61.63 and a two-hundred day simple moving average of $61.13. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $71.93. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.39 and a beta of 1.34.

OneMain (NYSE:OMF) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.76% and a net margin of 14.35%.The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.16 earnings per share. Analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Tuesday, February 17th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Tuesday, February 17th. OneMain’s payout ratio is currently 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.