Azora Capital LP Takes $39.65 Million Position in OneMain Holdings, Inc. (NYSE:OMF)

Azora Capital LP acquired a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 760,598 shares of the financial services provider’s stock, valued at approximately $39,650,000. OneMain comprises approximately 1.8% of Azora Capital LP’s investment portfolio, making the stock its 21st largest position. Azora Capital LP owned approximately 0.64% of OneMain as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMF. Bayesian Capital Management LP purchased a new stake in OneMain during the 4th quarter valued at $282,000. Bank of America Corp DE increased its position in OneMain by 7.7% during the fourth quarter. Bank of America Corp DE now owns 318,669 shares of the financial services provider’s stock valued at $16,612,000 after acquiring an additional 22,860 shares during the last quarter. BNP Paribas Financial Markets increased its position in OneMain by 32.2% during the fourth quarter. BNP Paribas Financial Markets now owns 63,436 shares of the financial services provider’s stock valued at $3,307,000 after acquiring an additional 15,437 shares during the last quarter. Ameriprise Financial Inc. boosted its position in OneMain by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 87,527 shares of the financial services provider’s stock worth $4,563,000 after purchasing an additional 3,631 shares during the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in shares of OneMain during the 4th quarter valued at about $375,000. Institutional investors own 85.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $62.00 price objective on shares of OneMain in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of OneMain from $58.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 target price on shares of OneMain in a report on Wednesday. Northland Securities raised OneMain from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 8th. Finally, Northland Capmk raised OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.40.

Insiders Place Their Bets

In other OneMain news, CEO Douglas H. Shulman sold 25,000 shares of OneMain stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $47.49, for a total transaction of $1,187,250.00. Following the completion of the transaction, the chief executive officer now directly owns 343,925 shares of the company’s stock, valued at $16,332,998.25. The trade was a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Hedlund sold 2,808 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $56.09, for a total transaction of $157,500.72. Following the completion of the sale, the senior vice president now directly owns 15,831 shares in the company, valued at approximately $887,960.79. This represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,808 shares of company stock valued at $3,344,751 over the last ninety days. 0.45% of the stock is owned by insiders.

OneMain Price Performance

NYSE OMF opened at $49.36 on Friday. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $58.90. The business has a 50 day simple moving average of $47.50 and a two-hundred day simple moving average of $51.76. The stock has a market capitalization of $5.88 billion, a PE ratio of 11.64, a P/E/G ratio of 0.44 and a beta of 1.28.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.17. OneMain had a net margin of 10.19% and a return on equity of 18.39%. The company had revenue of $188.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. OneMain’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be given a $1.04 dividend. The ex-dividend date is Friday, May 9th. This represents a $4.16 annualized dividend and a yield of 8.43%. OneMain’s dividend payout ratio is currently 87.95%.

OneMain Company Profile

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