Legal & General Group Plc Takes Position in OneMain Holdings, Inc. $OMF

Legal & General Group Plc purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, Holdings Channel reports. The fund purchased 122,440 shares of the financial services provider’s stock, valued at approximately $7,465,000.

Several other institutional investors have also made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its position in OneMain by 117.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of OneMain during the 4th quarter valued at $31,000. Atlantic Union Bankshares Corp acquired a new stake in shares of OneMain during the 4th quarter valued at $36,000. Transamerica Financial Advisors LLC grew its holdings in shares of OneMain by 88.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 314 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of OneMain during the 3rd quarter valued at $46,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

OneMain Stock Performance

Shares of NYSE OMF opened at $63.25 on Thursday. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.47 and a beta of 1.22. The business’s 50-day simple moving average is $62.02 and its 200-day simple moving average is $57.64. 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 earnings per share 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 analyst estimates of $1.28 billion. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, August 10th. OneMain’s payout ratio is presently 63.25%.

Analysts Set New Price Targets

OMF has been the topic of a number of research reports. Truist Financial upped their price target on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Barclays lowered their target price 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. Evercore set a $66.00 target price on OneMain in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Finally, Citizens Jmp boosted their price target on OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.40.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were 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 in the company, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction on 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 transaction, the senior vice president owned 10,627 shares in the company, valued at $680,128. This trade represents a 19.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,348 shares of company stock valued at $911,576 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

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.