The Manufacturers Life Insurance Company Purchases 16,117 Shares of OneMain Holdings, Inc. $OMF

The Manufacturers Life Insurance Company raised its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 73.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,962 shares of the financial services provider’s stock after purchasing an additional 16,117 shares during the period. The Manufacturers Life Insurance Company’s holdings in OneMain were worth $2,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in OneMain during the 1st quarter valued at about $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of OneMain by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider’s stock valued at $21,634,000 after acquiring an additional 9,067 shares during the period. Focus Partners Wealth boosted its position in shares of OneMain by 101.8% in the first quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 4,407 shares during the period. Prudential Financial Inc. grew its stake in OneMain by 32.9% during the second quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider’s stock valued at $541,000 after acquiring an additional 2,350 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in OneMain by 26.2% during the second quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 4,084 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

OneMain Price Performance

Shares of NYSE OMF opened at $65.03 on Monday. The stock has a market capitalization of $7.48 billion, a P/E ratio of 9.79, a PEG ratio of 0.50 and a beta of 1.21. 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 $59.43 and its two-hundred day simple moving average is $57.61.

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 7.12 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 10th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.5%. OneMain’s payout ratio is currently 63.25%.

Analysts Set New Price Targets

OMF has been the topic of several recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. TD Cowen boosted their price target on shares of OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Citizens Jmp upped their price target on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Truist Financial increased 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, Evercore set a $66.00 price objective on OneMain in a research report on Monday, July 6th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

Insider Activity

In other news, SVP Michael A. Hedlund sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares of the company’s stock, valued at approximately $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the transaction, the chief operating officer owned 91,250 shares in the company, valued at approximately $5,967,750. This represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,348 shares of company stock valued at $911,576. Company insiders own 0.29% of the company’s stock.

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.