Northwestern Mutual Wealth Management Co. Takes $724,000 Position in OneMain Holdings, Inc. $OMF

Northwestern Mutual Wealth Management Co. acquired a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,874 shares of the financial services provider’s stock, valued at approximately $724,000.

Several other large investors have also made changes to their positions in OMF. BlackRock Inc. purchased a new stake in OneMain during the second quarter valued at about $633,893,000. Norges Bank purchased a new position in shares of OneMain in the 4th quarter worth about $100,312,000. Bank of New York Mellon Corp purchased a new position in shares of OneMain in the 2nd quarter worth about $63,980,000. Janus Henderson Group PLC lifted its stake in shares of OneMain by 70.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider’s stock valued at $171,210,000 after purchasing an additional 1,047,263 shares in the last quarter. Finally, Azora Capital LP lifted its stake in shares of OneMain by 210.7% in the 4th quarter. Azora Capital LP now owns 1,362,934 shares of the financial services provider’s stock valued at $92,066,000 after purchasing an additional 924,302 shares in the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on OMF. Truist Financial increased their target price on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research report on Thursday, July 30th. Citizens Jmp increased their price objective on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, OneMain presently has an average rating of “Moderate Buy” and a consensus price target of $68.40.

OneMain Price Performance

OneMain stock opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The firm’s fifty day moving average price is $61.57 and its 200 day moving average price is $57.56.

OneMain (NYSE:OMF) last posted its quarterly earnings data 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 company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Monday, August 10th. OneMain’s dividend payout ratio (DPR) is 63.25%.

Insider Buying and Selling

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $680,128. This represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $65.40, for a total value of $327,000.00. Following the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. This trade represents a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,348 shares of company stock valued at $911,576. 0.29% of the stock is owned by insiders.

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.