Steph & Co. Makes New $75,000 Investment in OneMain Holdings, Inc. $OMF

Steph & Co. acquired a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,317 shares of the financial services provider’s stock, valued at approximately $75,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in OneMain by 56.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider’s stock valued at $5,966,000 after purchasing an additional 43,915 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of OneMain by 191.9% during the first quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 662 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in OneMain by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in OneMain in the first quarter valued at approximately $853,000. Finally, SG Americas Securities LLC increased its holdings in OneMain by 171.9% in the 1st quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock worth $532,000 after buying an additional 6,875 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Stock Performance

OMF stock opened at $58.73 on Friday. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24. The firm’s fifty day moving average is $59.25 and its 200 day moving average is $53.71. The firm has a market cap of $6.98 billion, a PE ratio of 10.60, a P/E/G ratio of 0.47 and a beta of 1.30.

OneMain (NYSE:OMF) last posted its earnings results on Friday, July 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. OneMain had a net margin of 12.63% and a return on equity of 20.65%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts predict that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Monday, August 4th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s dividend payout ratio (DPR) is presently 75.09%.

Analyst Upgrades and Downgrades

OMF has been the subject of several research reports. Barclays lifted their price objective on shares of OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Insider Activity at OneMain

In other news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total transaction of $2,081,450.00. Following the transaction, the chief executive officer owned 275,100 shares in the company, valued at $16,360,197. This trade represents a 11.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Micah R. Conrad sold 3,000 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares of the company’s stock, valued at approximately $5,880,420. The trade was a 2.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,000 shares of company stock worth $2,664,140. 0.40% of the stock is owned by corporate insiders.

OneMain 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.