VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in OneMain Holdings, Inc. $OMF

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 26,600 shares of the financial services provider’s stock, valued at approximately $1,622,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMF. CIBC Private Wealth Group LLC raised its position in OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Core Wealth Advisors LLC purchased a new position in OneMain during the 4th quarter worth approximately $31,000. Atlantic Union Bankshares Corp acquired a new stake in OneMain during the 4th quarter worth about $36,000. Transamerica Financial Advisors LLC grew its position in OneMain by 88.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock valued at $45,000 after purchasing 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. Institutional investors own 85.82% of the company’s stock.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of the company’s 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 of the company’s stock, valued at $5,967,750. This represents a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares in the company, valued at $680,128. The trade was a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 14,348 shares of company stock valued at $911,576. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Citizens Jmp lifted their target price on shares of OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OneMain in a research report on Tuesday, July 7th. TD Cowen upped their price objective 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. Citigroup reiterated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Finally, Barclays lowered their price objective 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. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

OneMain Stock Performance

Shares of OMF opened at $62.79 on Friday. The firm has a market cap of $7.22 billion, a P/E ratio of 9.46, a PEG ratio of 0.48 and a beta of 1.22. OneMain Holdings, Inc. has a twelve month low of $45.78 and a twelve month high of $71.93. The firm’s 50 day moving average price is $62.45 and its two-hundred day moving average price is $57.95.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 EPS 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 business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $1.05 dividend. The ex-dividend date was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.7%. OneMain’s payout ratio is 63.25%.

OneMain Profile

OneMain Holdings, Inc (NYSE: OMF) is a consumer finance company that provides personal lending and related financial products to consumers in the United States. Its primary business operates under the OneMain Financial brand and focuses on serving individuals who may not be fully served by traditional banks.

OneMain offers unsecured and secured personal loans, including loans used for debt consolidation, home improvements, major purchases and other personal expenses. The company also provides optional insurance and debt-cancellation products, as well as credit-related services designed to complement its lending business.