Jupiter Topco LLC Invests $166.06 Million in OneMain Holdings, Inc. $OMF

Jupiter Topco LLC purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,722,474 shares of the financial services provider’s stock, valued at approximately $166,060,000. Jupiter Topco LLC owned approximately 2.37% of OneMain as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kendall Capital Management acquired a new position in OneMain in the second quarter valued at approximately $1,483,000. The Manufacturers Life Insurance Company raised its position in shares of OneMain by 73.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 37,962 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 16,117 shares during the period. Bank of America Corp DE lifted its holdings in shares of OneMain by 117.8% in the 1st quarter. Bank of America Corp DE now owns 843,912 shares of the financial services provider’s stock worth $45,141,000 after purchasing an additional 456,470 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in OneMain during the 4th quarter valued at approximately $5,310,000. Finally, State of Wyoming acquired a new position in OneMain during the 2nd quarter valued at approximately $1,832,000. 85.82% of the stock is owned by institutional investors.

Insider Activity

In other OneMain news, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,000.00. Following the sale, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. The trade was a 19.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total transaction of $310,000.00. Following the completion of the sale, the chief operating officer directly owned 96,250 shares of the company’s stock, valued at approximately $5,967,500. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is owned by corporate insiders.

OneMain Stock Performance

Shares of OMF stock opened at $63.25 on Thursday. OneMain Holdings, Inc. has a 1 year low of $45.78 and a 1 year high of $71.93. The firm has a market capitalization of $7.28 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The stock has a fifty day moving average of $61.57 and a two-hundred day moving average of $57.56.

OneMain (NYSE:OMF) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that OneMain Holdings, Inc. will post 7.11 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $4.20 annualized dividend and a yield of 6.6%. OneMain’s dividend payout ratio (DPR) is presently 63.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Citigroup restated a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Barclays reduced their price target on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Royal Bank Of Canada lifted their price objective on shares of OneMain from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Citizens Jmp boosted their target price on shares of OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.40.

OneMain 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.