Diversified Management Inc. Cuts Stock Position in OneMain Holdings, Inc. $OMF

Diversified Management Inc. lowered its holdings in shares of OneMain Holdings, Inc. (NYSE:OMF) by 89.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,466 shares of the financial services provider’s stock after selling 29,218 shares during the quarter. Diversified Management Inc.’s holdings in OneMain were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Csenge Advisory Group lifted its holdings in shares of OneMain by 4.1% in the 4th quarter. Csenge Advisory Group now owns 4,239 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 167 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in OneMain by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,075 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 174 shares during the last quarter. Geneos Wealth Management Inc. raised its position in OneMain by 9.1% during the second quarter. Geneos Wealth Management Inc. now owns 2,112 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 176 shares during the period. New York State Teachers Retirement System raised its position in OneMain by 1.7% during the first quarter. New York State Teachers Retirement System now owns 11,131 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 189 shares during the period. Finally, Generali Asset Management SPA SGR lifted its stake in shares of OneMain by 5.9% in the 4th quarter. Generali Asset Management SPA SGR now owns 3,413 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 190 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Trading Up 1.5%

Shares of NYSE:OMF opened at $64.64 on Thursday. The company has a market capitalization of $7.44 billion, a PE ratio of 9.73, a P/E/G ratio of 0.49 and a beta of 1.21. The business’s fifty day simple moving average is $60.00 and its 200-day simple moving average is $57.60. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93.

OneMain (NYSE:OMF) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share for the quarter, beating 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 analysts’ expectations of $1.28 billion. During the same period last year, the business earned $1.45 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Research analysts predict that OneMain Holdings, Inc. will post 7.12 EPS for the current year.

OneMain Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research reissued a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. Royal Bank Of Canada raised their price target on OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. TD Cowen boosted their price objective on OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Evercore set a $66.00 target price on shares of OneMain in a research note on Monday, July 6th. Finally, Citizens Jmp lifted their price target 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. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.40.

Insider Transactions at OneMain

In other OneMain news, 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 transaction of $160,000.00. Following the completion of the sale, the senior vice president owned 10,627 shares of the company’s stock, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 91,250 shares in the company, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,348 shares of company stock worth $911,576 in the last 90 days. Insiders own 0.29% of the company’s stock.

OneMain Company 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.