State of Michigan Retirement System Lowers Stock Holdings in OneMain Holdings, Inc. (NYSE:OMF)

State of Michigan Retirement System reduced its position in OneMain Holdings, Inc. (NYSE:OMF) by 6.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,135,000 shares of the financial services provider’s stock after selling 75,000 shares during the period. State of Michigan Retirement System owned about 0.95% of OneMain worth $57,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in OneMain by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 44,557 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 1,025 shares during the period. Aviance Capital Partners LLC grew its stake in shares of OneMain by 1.3% during the 1st quarter. Aviance Capital Partners LLC now owns 26,724 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 352 shares during the period. Peak Financial Advisors LLC purchased a new stake in shares of OneMain during the 1st quarter valued at $340,000. FCF Advisors LLC grew its stake in shares of OneMain by 29.9% during the 1st quarter. FCF Advisors LLC now owns 14,781 shares of the financial services provider’s stock valued at $755,000 after buying an additional 3,405 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of OneMain by 5.2% during the 1st quarter. Fulton Bank N.A. now owns 6,707 shares of the financial services provider’s stock valued at $343,000 after buying an additional 329 shares during the period. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on OMF. TD Cowen boosted their price objective on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their price objective on shares of OneMain from $48.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. JMP Securities reduced their target price on shares of OneMain from $62.00 to $59.00 and set a “market outperform” rating on the stock in a report on Tuesday, June 4th. BTIG Research started coverage on shares of OneMain in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Royal Bank of Canada lifted their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

OneMain Trading Up 1.3 %

NYSE OMF traded up $0.65 on Tuesday, hitting $48.92. 560,424 shares of the stock traded hands, compared to its average volume of 970,952. The stock has a 50-day moving average of $49.31 and a 200 day moving average of $48.53. The company has a market capitalization of $5.86 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 0.72 and a beta of 1.58. OneMain Holdings, Inc. has a twelve month low of $35.00 and a twelve month high of $53.65.

OneMain (NYSE:OMF) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.07. OneMain had a return on equity of 20.78% and a net margin of 13.29%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $907.93 million. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts expect that OneMain Holdings, Inc. will post 5.57 earnings per share for the current year.

OneMain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 8.50%. This is a positive change from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, May 9th. OneMain’s dividend payout ratio is 81.09%.

Insider Buying and Selling

In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $51.37, for a total transaction of $976,030.00. Following the completion of the transaction, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at approximately $23,183,281. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other OneMain news, CEO Douglas H. Shulman sold 19,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $51.37, for a total transaction of $976,030.00. Following the completion of the transaction, the chief executive officer now directly owns 451,300 shares of the company’s stock, valued at approximately $23,183,281. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Hedlund sold 3,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.10, for a total value of $144,300.00. Following the transaction, the senior vice president now directly owns 28,147 shares of the company’s stock, valued at $1,353,870.70. The disclosure for this sale can be found here. Insiders sold 29,500 shares of company stock valued at $1,500,055 in the last three months. 0.45% of the stock is currently owned by corporate insiders.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.