Allspring Global Investments Holdings LLC Has $9.76 Million Stake in OneMain Holdings, Inc. $OMF

Allspring Global Investments Holdings LLC raised its holdings in OneMain Holdings, Inc. (NYSE:OMF) by 37.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,612 shares of the financial services provider’s stock after purchasing an additional 46,035 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of OneMain worth $9,758,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its stake in shares of OneMain by 2.7% in the second quarter. Central Pacific Bank Trust Division now owns 8,079 shares of the financial services provider’s stock valued at $461,000 after buying an additional 210 shares during the period. Essex Financial Services Inc. raised its holdings in OneMain by 6.7% in the 1st quarter. Essex Financial Services Inc. now owns 4,591 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 288 shares in the last quarter. Deutsche Bank AG lifted its position in shares of OneMain by 0.8% during the 1st quarter. Deutsche Bank AG now owns 36,581 shares of the financial services provider’s stock valued at $1,788,000 after acquiring an additional 290 shares during the period. Allworth Financial LP grew its holdings in shares of OneMain by 21.7% during the 1st quarter. Allworth Financial LP now owns 1,976 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 352 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in shares of OneMain by 2.2% in the first quarter. Independent Advisor Alliance now owns 16,479 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 357 shares during the period. 85.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on OMF shares. JMP Securities dropped their price target on OneMain from $65.00 to $63.00 and set a “market outperform” rating for the company in a research note on Monday, October 13th. Wells Fargo & Company started coverage on shares of OneMain in a research report on Monday, August 25th. They issued an “equal weight” rating for the company. Citigroup reaffirmed an “outperform” rating on shares of OneMain in a report on Monday, October 13th. Wall Street Zen cut shares of OneMain from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

OneMain Trading Up 1.7%

OMF opened at $54.19 on Friday. The company has a market cap of $6.44 billion, a P/E ratio of 9.78, a PEG ratio of 0.43 and a beta of 1.32. The company’s 50 day moving average is $58.57 and its 200-day moving average is $54.42. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $63.24.

OneMain (NYSE:OMF) last issued its quarterly earnings data on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Monday, August 4th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.16 annualized dividend and a dividend yield of 7.7%. OneMain’s dividend payout ratio (DPR) is 75.09%.

Insiders Place Their Bets

In related news, CEO Douglas H. Shulman sold 35,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the sale, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. The trade was a 11.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

OneMain Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.