Principal Financial Group Inc. Decreases Stake in OneMain Holdings, Inc. $OMF

Principal Financial Group Inc. reduced its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,107 shares of the financial services provider’s stock after selling 15,799 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of OneMain worth $26,590,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its stake in OneMain by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 202 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in OneMain during the 4th quarter worth about $31,000. Atlantic Union Bankshares Corp purchased a new stake in OneMain during the 4th quarter valued at about $36,000. Transamerica Financial Advisors LLC grew its stake in OneMain by 88.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of OneMain in the third quarter valued at about $46,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer owned 96,250 shares in the company, valued at $5,967,500. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 1,848 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $114,576.00. Following the sale, the senior vice president directly owned 13,127 shares of the company’s stock, valued at $813,874. This represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OMF shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a research note on Friday, July 10th. BTIG Research reiterated a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. Barclays cut their price target on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. TD Cowen raised their price target on shares of OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Evercore set a $66.00 price objective on shares of OneMain in a research note on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.80.

OneMain Price Performance

Shares of OMF stock opened at $60.22 on Tuesday. OneMain Holdings, Inc. has a 1-year low of $45.78 and a 1-year high of $71.93. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.46 and a beta of 1.22. The stock has a 50 day simple moving average of $56.93 and a 200-day simple moving average of $58.15.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.09. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.27 billion. OneMain had a net margin of 14.38% and a return on equity of 24.24%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. Analysts anticipate that OneMain Holdings, Inc. will post 7.19 earnings per share for the current fiscal year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Monday, May 11th. OneMain’s dividend payout ratio (DPR) is presently 62.50%.

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.