Bank of New York Mellon Corp Cuts Position in OneMain Holdings Inc (OMF)

Bank of New York Mellon Corp reduced its position in OneMain Holdings Inc (NYSE:OMF) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,592,051 shares of the financial services provider’s stock after selling 33,621 shares during the quarter. Bank of New York Mellon Corp owned about 3.38% of OneMain worth $152,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake in shares of OneMain by 8.7% during the second quarter. Public Employees Retirement System of Ohio now owns 78,682 shares of the financial services provider’s stock valued at $2,619,000 after acquiring an additional 6,317 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of OneMain by 18.4% during the second quarter. California Public Employees Retirement System now owns 53,253 shares of the financial services provider’s stock valued at $1,773,000 after acquiring an additional 8,281 shares in the last quarter. Soros Fund Management LLC acquired a new stake in shares of OneMain during the second quarter valued at about $3,001,000. Cubist Systematic Strategies LLC grew its stake in shares of OneMain by 141.9% during the second quarter. Cubist Systematic Strategies LLC now owns 10,738 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 6,299 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of OneMain by 347.2% during the second quarter. Point72 Asset Management L.P. now owns 230,300 shares of the financial services provider’s stock valued at $7,667,000 after acquiring an additional 178,800 shares in the last quarter. 91.22% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on OMF. Zacks Investment Research downgraded OneMain from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Barclays set a $39.00 price target on OneMain and gave the stock an “equal weight” rating in a research note on Friday, July 20th. ValuEngine downgraded OneMain from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, BMO Capital Markets lifted their price target on OneMain from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. OneMain has a consensus rating of “Buy” and a consensus target price of $38.70.

In related news, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $35.41, for a total value of $88,525.00. Following the completion of the transaction, the senior vice president now directly owns 7,644 shares in the company, valued at $270,674.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.93% of the stock is currently owned by company insiders.

NYSE:OMF opened at $29.34 on Monday. The stock has a market capitalization of $3.98 billion, a P/E ratio of 8.29, a PEG ratio of 0.79 and a beta of 2.64. OneMain Holdings Inc has a one year low of $23.68 and a one year high of $37.29.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.03. The business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $852.42 million. OneMain had a return on equity of 19.01% and a net margin of 8.27%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. Analysts anticipate that OneMain Holdings Inc will post 4.99 EPS for the current fiscal year.

OneMain Profile

OneMain Holdings, Inc, through its subsidiaries, provides consumer finance and insurance products and services. The company operates in two segments, Consumer and Insurance, and Acquisitions and Servicing. It provides secured and unsecured personal loans; credit insurance products, such as life, disability, and involuntary unemployment insurance products; non-credit insurance; and auto membership plans, as well as retail sales finance services.

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Institutional Ownership by Quarter for OneMain (NYSE:OMF)

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