Corient Private Wealth LP Cuts Position in OneMain Holdings, Inc. $OMF

Corient Private Wealth LP decreased its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 22.3% in the second quarter, Holdings Channel.com reports. The firm owned 32,566 shares of the financial services provider’s stock after selling 9,359 shares during the period. Corient Private Wealth LP’s holdings in OneMain were worth $1,986,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its stake in shares of OneMain by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the last quarter. Core Wealth Advisors LLC bought a new position in OneMain during the 4th quarter valued at approximately $31,000. Atlantic Union Bankshares Corp purchased a new position in OneMain during the fourth quarter valued at $36,000. Transamerica Financial Advisors LLC raised its stake 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 buying an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in OneMain during the third quarter valued at $46,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

OneMain Stock Up 3.5%

Shares of NYSE OMF opened at $63.25 on Thursday. OneMain Holdings, Inc. has a twelve month low of $45.78 and a twelve month high of $71.93. The firm has a market cap of $7.28 billion, a P/E ratio of 9.53, a PEG ratio of 0.47 and a beta of 1.22. The company has a 50 day moving average of $62.02 and a 200 day moving average of $57.64.

OneMain (NYSE:OMF) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.45 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Monday, August 10th. OneMain’s dividend payout ratio is presently 63.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OMF shares. Citigroup reissued a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Truist Financial lifted their price target on 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 price target on OneMain in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of OneMain in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada increased their price objective on shares of 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 given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.40.

Insiders Place Their Bets

In related news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the completion of the sale, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the business’s 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 14,348 shares of company stock worth $911,576. Corporate insiders own 0.29% of the company’s stock.

OneMain Profile

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.