WESPAC Advisors LLC Makes New Investment in OneMain Holdings, Inc. $OMF

WESPAC Advisors LLC purchased a new stake in OneMain Holdings, Inc. (NYSE:OMF) during the third quarter, Holdings Channel reports. The institutional investor purchased 12,511 shares of the financial services provider’s stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bayforest Capital Ltd raised its holdings in OneMain by 591.8% in the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 574 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of OneMain by 79.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 363 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of OneMain by 2,940.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 882 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of OneMain during the 2nd quarter worth $56,000. Finally, Legend Financial Advisors Inc. acquired a new position in shares of OneMain during the second quarter worth $57,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 57,500 shares of OneMain stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $68.41, for a total value of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at approximately $11,910,181. This trade represents a 24.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $59.20, for a total value of $296,000.00. Following the sale, the chief operating officer owned 88,221 shares of the company’s stock, valued at $5,222,683.20. This trade represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,152 shares of company stock valued at $6,353,899 over the last quarter. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on OMF. Barclays lifted their price target on OneMain from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Evercore ISI set a $75.00 target price on OneMain in a research note on Tuesday, January 6th. Truist Financial assumed coverage on OneMain in a report on Monday, December 8th. They issued a “buy” rating and a $75.00 price target for the company. Citizens Jmp cut their price objective on shares of OneMain from $70.00 to $68.00 and set a “market outperform” rating on the stock in a report on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.30.

OneMain Trading Down 0.5%

Shares of NYSE OMF opened at $66.28 on Wednesday. The stock has a market cap of $7.80 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.37 and a beta of 1.33. OneMain Holdings, Inc. has a twelve month low of $38.00 and a twelve month high of $71.93. The stock has a 50 day moving average of $64.85 and a two-hundred day moving average of $60.57.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.58 by $0.32. The firm had revenue of $747.00 million during the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same quarter in the prior year, the firm earned $1.31 EPS. As a group, research analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current year.

OneMain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 6.3%. This is a positive change from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, November 10th. OneMain’s payout ratio is currently 71.19%.

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.