Squarepoint Ops LLC Raises Position in OneMain Holdings, Inc. $OMF

Squarepoint Ops LLC boosted its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,499 shares of the financial services provider’s stock after buying an additional 9,179 shares during the period. Squarepoint Ops LLC’s holdings in OneMain were worth $12,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMF. Kendall Capital Management bought a new position in shares of OneMain in the second quarter worth approximately $1,483,000. Bank of New York Mellon Corp bought a new stake in OneMain during the second quarter valued at approximately $63,980,000. The Manufacturers Life Insurance Company lifted its position in OneMain by 73.8% during the first quarter. The Manufacturers Life Insurance Company now owns 37,962 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 16,117 shares during the last quarter. Bank of America Corp DE lifted its position in OneMain by 117.8% during the first quarter. Bank of America Corp DE now owns 843,912 shares of the financial services provider’s stock valued at $45,141,000 after purchasing an additional 456,470 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in OneMain in the 2nd quarter worth approximately $633,893,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at OneMain

In other OneMain news, SVP Michael Hedlund sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah Conrad sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.40, for a total transaction of $327,000.00. Following the sale, the chief operating officer owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. The trade was a 5.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,348 shares of company stock valued at $911,576 over the last three months. 0.29% of the stock is currently owned by insiders.

OneMain Price Performance

Shares of NYSE OMF opened at $62.61 on Thursday. The stock has a market capitalization of $7.20 billion, a P/E ratio of 9.43, a PEG ratio of 0.49 and a beta of 1.22. OneMain Holdings, Inc. has a one year low of $45.78 and a one year high of $71.93. The firm’s 50 day simple moving average is $62.33 and its two-hundred day simple moving average is $57.88.

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, topping analysts’ consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $1.45 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities 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 announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Monday, August 10th. OneMain’s dividend payout ratio (DPR) is presently 63.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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 report on Tuesday, July 7th. Barclays dropped their price objective on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Truist Financial upped their target price on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Evercore set a $66.00 target price on OneMain in a research note on Monday, July 6th. Finally, Citizens Jmp raised their price target on OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, OneMain presently has a consensus rating of “Moderate Buy” and an average target price of $68.40.

About OneMain

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.