Quantbot Technologies LP Acquires New Stake in OneMain Holdings, Inc. $OMF

Quantbot Technologies LP bought a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 17,298 shares of the financial services provider’s stock, valued at approximately $1,055,000.

Several other hedge funds have also recently bought and sold shares of OMF. Fortress Financial Group LLC purchased a new position in OneMain during the 2nd quarter valued at about $391,000. Evolve Private Wealth LLC purchased a new stake in OneMain during the second quarter worth about $273,000. Westpac Banking Corp purchased a new stake in OneMain during the second quarter worth about $183,000. Ieq Capital LLC acquired a new stake in shares of OneMain during the second quarter worth about $8,558,000. Finally, Callan Family Office LLC purchased a new position in shares of OneMain in the second quarter valued at approximately $789,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Buying and Selling at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were 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. The trade was a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total transaction of $160,000.00. Following the transaction, 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 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 ninety days, insiders have sold 14,348 shares of company stock valued at $911,576. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OMF. Barclays dropped their price objective on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Evercore set a $66.00 price target on shares of OneMain in a research report on Monday, July 6th. TD Cowen boosted their price target on shares of OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Citizens Jmp boosted their price target on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Finally, Truist Financial upped their price objective on OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

OneMain Stock Performance

OMF stock opened at $63.33 on Wednesday. The company’s 50 day moving average price is $61.46 and its 200 day moving average price is $57.55. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.48 and a beta of 1.21. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that OneMain Holdings, Inc. will post 7.11 EPS for the current fiscal year.

OneMain Dividend Announcement

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

About OneMain

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.