OneMain Holdings, Inc. (NYSE:OMF) Stake Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its holdings in OneMain Holdings, Inc. (NYSE:OMFGet Rating) by 20.0% in the 1st quarter, Holdings Channel reports. The fund owned 170,134 shares of the financial services provider’s stock after selling 42,460 shares during the period. Great Lakes Advisors LLC’s holdings in OneMain were worth $8,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its stake in shares of OneMain by 1.0% during the 1st quarter. CWM LLC now owns 37,299 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 365 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of OneMain by 20.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 39,889 shares of the financial services provider’s stock worth $1,891,000 after purchasing an additional 6,704 shares in the last quarter. Strs Ohio raised its stake in shares of OneMain by 15.3% during the 1st quarter. Strs Ohio now owns 21,073 shares of the financial services provider’s stock worth $999,000 after purchasing an additional 2,799 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of OneMain during the 1st quarter worth about $11,464,000. Finally, Patient Capital Management LLC purchased a new stake in shares of OneMain during the 4th quarter worth about $5,274,000. 84.43% of the stock is owned by hedge funds and other institutional investors.

OneMain Trading Down 0.8 %

Shares of NYSE:OMF opened at $36.51 on Friday. OneMain Holdings, Inc. has a 1-year low of $34.22 and a 1-year high of $60.51. The firm has a market capitalization of $4.52 billion, a PE ratio of 4.44 and a beta of 1.61. The business’s 50 day moving average is $39.36 and its 200-day moving average is $44.61.

OneMain (NYSE:OMFGet Rating) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $1.87 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.07). OneMain had a return on equity of 37.61% and a net margin of 22.43%. During the same period in the prior year, the company posted $2.66 EPS. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 7.69 EPS for the current year.

OneMain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 8th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $3.80 annualized dividend and a dividend yield of 10.41%. OneMain’s dividend payout ratio (DPR) is presently 46.17%.

Insider Buying and Selling

In related news, CEO Douglas H. Shulman bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average price of $40.64 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now directly owns 348,612 shares of the company’s stock, valued at $14,167,591.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other OneMain news, CEO Douglas H. Shulman acquired 2,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $40.64 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now owns 348,612 shares in the company, valued at approximately $14,167,591.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas H. Shulman acquired 1,000 shares of the business’s stock in a transaction on Friday, May 20th. The stock was acquired at an average price of $40.23 per share, with a total value of $40,230.00. Following the transaction, the chief executive officer now owns 349,612 shares in the company, valued at approximately $14,064,890.76. The disclosure for this purchase can be found here. Insiders purchased 4,650 shares of company stock worth $184,472 in the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OMF. Royal Bank of Canada cut their price objective on OneMain from $62.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday. BMO Capital Markets cut their price objective on OneMain from $58.00 to $50.00 in a research note on Monday, August 1st. JMP Securities cut their price objective on OneMain from $68.00 to $58.00 and set a “market outperform” rating on the stock in a research note on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their price objective on OneMain from $75.00 to $53.00 in a research note on Friday, July 29th. Finally, Compass Point cut their price objective on OneMain to $63.00 in a research note on Monday, July 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.91.

OneMain Profile

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OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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Institutional Ownership by Quarter for OneMain (NYSE:OMF)

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