Illinois Municipal Retirement Fund Raises Holdings in OneMain Holdings, Inc. $OMF

Illinois Municipal Retirement Fund boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 1.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 72,237 shares of the financial services provider’s stock after purchasing an additional 1,138 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in OneMain were worth $4,118,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SVB Wealth LLC purchased a new position in OneMain in the 1st quarter valued at approximately $34,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of OneMain during the 1st quarter worth about $42,000. Headlands Technologies LLC purchased a new position in OneMain in the first quarter valued at about $46,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in OneMain by 79.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 363 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in OneMain by 2,940.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total transaction of $2,083,900.00. Following the completion of the transaction, the chief executive officer directly owned 231,600 shares of the company’s stock, valued at approximately $13,789,464. This trade represents a 13.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on OneMain from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Citizens Jmp increased their price objective on shares of OneMain from $63.00 to $70.00 and gave the company a “market outperform” rating in a research note on Monday, November 3rd. Royal Bank Of Canada raised their price objective on shares of OneMain from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Wall Street Zen upgraded OneMain from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Citigroup reaffirmed an “outperform” rating on shares of OneMain in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, OneMain has an average rating of “Moderate Buy” and an average target price of $63.13.

OneMain Stock Performance

NYSE:OMF opened at $60.37 on Thursday. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.45 and a beta of 1.37. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $63.24. The business has a fifty day moving average of $58.18 and a 200-day moving average of $56.27.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.32. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. OneMain had a net margin of 12.63% and a return on equity of 20.65%. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, equities research analysts predict that OneMain Holdings, Inc. will post 6.46 EPS for the current year.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 10th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a yield of 7.0%. OneMain’s dividend payout ratio is presently 71.19%.

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.