QRG Capital Management Inc. Grows Position in OneMain Holdings, Inc. (NYSE:OMF)

QRG Capital Management Inc. raised its position in OneMain Holdings, Inc. (NYSE:OMF) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,807 shares of the financial services provider’s stock after purchasing an additional 4,330 shares during the quarter. QRG Capital Management Inc. owned 0.06% of OneMain worth $3,412,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OMF. Cyndeo Wealth Partners LLC acquired a new stake in shares of OneMain in the first quarter valued at about $6,462,000. Asio Capital LLC grew its stake in shares of OneMain by 1.4% in the first quarter. Asio Capital LLC now owns 82,786 shares of the financial services provider’s stock valued at $4,047,000 after buying an additional 1,157 shares in the last quarter. Vista Finance LLC grew its stake in shares of OneMain by 7.0% in the first quarter. Vista Finance LLC now owns 6,794 shares of the financial services provider’s stock valued at $332,000 after buying an additional 442 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of OneMain by 8.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,269 shares of the financial services provider’s stock valued at $697,000 after buying an additional 1,147 shares in the last quarter. Finally, My Legacy Advisors LLC grew its stake in shares of OneMain by 11.1% in the first quarter. My Legacy Advisors LLC now owns 4,610 shares of the financial services provider’s stock valued at $225,000 after buying an additional 461 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total transaction of $261,050.00. Following the sale, the chief operating officer now owns 108,007 shares of the company’s stock, valued at $5,639,045.47. The trade was a 4.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,187,250.00. Following the sale, the chief executive officer now directly owns 343,925 shares in the company, valued at $16,332,998.25. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,000 shares of company stock valued at $4,499,500. Insiders own 0.40% of the company’s stock.

OneMain Trading Up 2.1%

Shares of OMF opened at $53.66 on Thursday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.45 and a beta of 1.31. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $58.90. The stock has a 50 day moving average of $49.70 and a 200-day moving average of $51.57.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.17. The business had revenue of $188.00 million for the quarter, compared to the consensus estimate of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.75%. The ex-dividend date was Friday, May 9th. OneMain’s dividend payout ratio (DPR) is 87.95%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on OneMain from $58.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on OneMain from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Barclays set a $56.00 price objective on OneMain in a research note on Friday, March 14th. Northland Securities upgraded OneMain from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 8th. Finally, Northland Capmk upgraded OneMain from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.40.

About OneMain

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.