Tidal Investments LLC Has $2.42 Million Position in OneMain Holdings, Inc. $OMF

Tidal Investments LLC lessened its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 23.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,705 shares of the financial services provider’s stock after selling 11,850 shares during the period. Tidal Investments LLC’s holdings in OneMain were worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in OMF. BlackRock Inc. bought a new position in shares of OneMain during the 2nd quarter worth about $633,893,000. Dimensional Fund Advisors LP boosted its position in shares of OneMain by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock valued at $232,258,000 after acquiring an additional 308,370 shares in the last quarter. Jupiter Topco LLC bought a new stake in OneMain in the second quarter valued at about $166,060,000. Geode Capital Management LLC increased its stake in OneMain by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider’s stock valued at $164,017,000 after acquiring an additional 15,941 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in OneMain by 17.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,310,513 shares of the financial services provider’s stock worth $156,075,000 after purchasing an additional 345,269 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Stock Down 2.7%

Shares of OMF stock opened at $61.49 on Wednesday. The company has a market capitalization of $7.07 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.48 and a beta of 1.22. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The firm has a 50-day moving average price of $62.55 and a 200 day moving average price of $58.07.

OneMain (NYSE:OMF) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. As a group, research analysts expect that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were given a dividend of $1.05 per share. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.8%. OneMain’s dividend payout ratio is 63.25%.

Insider Buying and Selling

In related news, COO Micah Conrad sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the completion of the sale, the chief operating officer directly owned 91,250 shares of the company’s stock, valued at $5,967,750. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Hedlund sold 2,500 shares of the firm’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 sale, the senior vice president directly owned 10,627 shares of the company’s stock, valued at $680,128. This represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OMF has been the subject of a number of analyst reports. Barclays cut their price target on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Truist Financial upped their price objective on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen raised their target price on OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Evercore set a $66.00 price target on OneMain in a research note on Monday, July 6th. Finally, Royal Bank Of Canada upped their price target on OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research report 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 assigned a Sell rating to the company. According to data from MarketBeat.com, OneMain presently has an average rating of “Moderate Buy” and an average target price of $68.40.

OneMain Company 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.