OneMain Holdings, Inc. $OMF Shares Sold by Patient Capital Management LLC

Patient Capital Management LLC cut its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 936,913 shares of the financial services provider’s stock after selling 95,588 shares during the quarter. OneMain accounts for 2.1% of Patient Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Patient Capital Management LLC owned approximately 0.79% of OneMain worth $52,898,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of OneMain in the third quarter valued at $26,000. Bayforest Capital Ltd raised its position in OneMain by 591.8% during the third quarter. Bayforest Capital Ltd now owns 671 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 574 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of OneMain by 79.4% in the second 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. Golden State Wealth Management LLC grew its position in shares of OneMain by 2,940.0% in the second quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 882 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of OneMain during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

OneMain Stock Down 3.0%

Shares of NYSE OMF opened at $63.42 on Wednesday. The stock has a market capitalization of $7.47 billion, a PE ratio of 10.75, a P/E/G ratio of 0.36 and a beta of 1.33. The firm has a fifty day moving average of $65.36 and a 200-day moving average of $60.79. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last issued its earnings results 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. OneMain had a return on equity of 22.70% and a net margin of 13.15%.The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $1.31 EPS. Equities research analysts expect that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were given a dividend of $1.05 per share. This is a boost from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, November 10th. This represents a $4.20 annualized dividend and a yield of 6.6%. OneMain’s dividend payout ratio is presently 71.19%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on OneMain from $63.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Citigroup restated a “market outperform” rating on shares of OneMain in a research report on Monday, November 24th. Citizens Jmp cut their target price on shares of OneMain from $70.00 to $68.00 and set a “market outperform” rating for the company in a research note on Monday, November 24th. Royal Bank Of Canada lifted their price target on shares of OneMain from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Finally, Evercore ISI set a $75.00 price objective on shares of OneMain in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.30.

Insider Activity

In other news, CEO Douglas H. Shulman sold 57,500 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $68.41, for a total value of $3,933,575.00. Following the transaction, the chief executive officer directly owned 174,100 shares in the company, valued at approximately $11,910,181. This trade represents a 24.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $59.20, for a total transaction of $296,000.00. Following the sale, the chief operating officer directly owned 88,221 shares of the company’s stock, valued at approximately $5,222,683.20. This represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 98,152 shares of company stock worth $6,353,899 over the last 90 days. Company insiders own 0.40% of the company’s stock.

About OneMain

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.