New York Life Investment Management LLC Invests $681,000 in OneMain Holdings, Inc. $OMF

New York Life Investment Management LLC bought a new stake in OneMain Holdings, Inc. (NYSE:OMF) during the third quarter, HoldingsChannel reports. The fund bought 12,066 shares of the financial services provider’s stock, valued at approximately $681,000.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of OneMain by 84.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 234,521 shares of the financial services provider’s stock worth $13,241,000 after acquiring an additional 107,204 shares during the period. D.A. Davidson & CO. lifted its position in OneMain by 43.1% during the third quarter. D.A. Davidson & CO. now owns 34,385 shares of the financial services provider’s stock valued at $1,941,000 after purchasing an additional 10,357 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in OneMain in the third quarter valued at $907,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in OneMain by 51.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,026 shares of the financial services provider’s stock worth $5,139,000 after purchasing an additional 30,977 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of OneMain by 30.2% during the 2nd quarter. Empowered Funds LLC now owns 60,125 shares of the financial services provider’s stock valued at $3,427,000 after buying an additional 13,963 shares during the last quarter. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Stock Down 0.3%

Shares of NYSE OMF opened at $56.94 on Friday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.33 and a beta of 1.33. The company’s 50-day simple moving average is $66.13 and its 200-day simple moving average is $61.35. OneMain Holdings, Inc. has a 52-week low of $38.00 and a 52-week high of $71.93.

OneMain (NYSE:OMF) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.04. OneMain had a return on equity of 23.81% and a net margin of 14.35%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $1.16 EPS. Equities research analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.4%. OneMain’s dividend payout ratio is presently 63.93%.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMF. Evercore set a $75.00 target price on OneMain in a research note on Tuesday, January 6th. Barclays set a $71.00 target price on shares of OneMain in a report on Friday, February 6th. Royal Bank Of Canada increased their price target on shares of OneMain from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Truist Financial decreased their price objective on shares of OneMain from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, Citigroup reissued a “market outperform” rating on shares of OneMain in a research note on Monday, November 24th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $71.70.

Insider Activity

In related news, SVP Michael A. Hedlund sold 652 shares of OneMain stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $62.00, for a total transaction of $40,424.00. Following the transaction, the senior vice president owned 15,179 shares in the company, valued at approximately $941,098. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas H. Shulman sold 57,500 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 174,100 shares of the company’s stock, valued at approximately $11,910,181. The trade was a 24.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by corporate insiders.

OneMain Company Profile

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.