Geode Capital Management LLC Acquires 15,941 Shares of OneMain Holdings, Inc. $OMF

Geode Capital Management LLC boosted its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,422,562 shares of the financial services provider’s stock after buying an additional 15,941 shares during the period. Geode Capital Management LLC’s holdings in OneMain were worth $164,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of OMF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in OneMain during the first quarter worth $2,037,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in OneMain by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 442,598 shares of the financial services provider’s stock worth $21,634,000 after buying an additional 9,067 shares during the period. Focus Partners Wealth lifted its holdings in OneMain by 101.8% during the first quarter. Focus Partners Wealth now owns 8,737 shares of the financial services provider’s stock worth $427,000 after buying an additional 4,407 shares during the period. Prudential Financial Inc. lifted its holdings in OneMain by 32.9% during the second quarter. Prudential Financial Inc. now owns 9,492 shares of the financial services provider’s stock worth $541,000 after buying an additional 2,350 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in OneMain by 26.2% during the second quarter. Russell Investments Group Ltd. now owns 19,644 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 4,084 shares during the period. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Trading Down 2.0%

Shares of OMF stock opened at $53.43 on Thursday. The business’s fifty day simple moving average is $55.33 and its 200-day simple moving average is $59.55. The company has a market cap of $6.17 billion, a PE ratio of 7.95, a PEG ratio of 0.40 and a beta of 1.24. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93.

OneMain (NYSE:OMF) last released its earnings results on Friday, May 1st. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $1.72 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that OneMain Holdings, Inc. will post 7.39 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Monday, May 11th. OneMain’s dividend payout ratio is presently 62.50%.

Insider Activity

In related news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief operating officer directly owned 101,250 shares of the company’s stock, valued at $6,075,000. This represents a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stephens lowered their target price on OneMain to $76.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Wells Fargo & Company reduced their price target on OneMain from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. TD Cowen reaffirmed a “buy” rating on shares of OneMain in a research report on Monday, May 4th. Barclays reduced their price target on OneMain from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price target on OneMain from $63.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.30.

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.