Capital International Investors Increases Holdings in OneMain Holdings, Inc. (NYSE:OMF)

Capital International Investors increased its stake in OneMain Holdings, Inc. (NYSE:OMF) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,570,103 shares of the financial services provider’s stock after purchasing an additional 889,387 shares during the quarter. Capital International Investors owned about 7.99% of OneMain worth $488,937,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of OneMain by 5.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 123,411 shares of the financial services provider’s stock worth $6,309,000 after buying an additional 6,754 shares during the period. Clearbridge Investments LLC increased its holdings in shares of OneMain by 64.8% in the first quarter. Clearbridge Investments LLC now owns 1,890,017 shares of the financial services provider’s stock worth $96,561,000 after buying an additional 743,034 shares during the period. Covestor Ltd increased its holdings in shares of OneMain by 82.1% in the first quarter. Covestor Ltd now owns 3,457 shares of the financial services provider’s stock worth $177,000 after buying an additional 1,559 shares during the period. Edgestream Partners L.P. increased its holdings in shares of OneMain by 31.2% in the first quarter. Edgestream Partners L.P. now owns 40,399 shares of the financial services provider’s stock worth $2,064,000 after buying an additional 9,597 shares during the period. Finally, Cercano Management LLC increased its holdings in shares of OneMain by 434.1% in the first quarter. Cercano Management LLC now owns 194,631 shares of the financial services provider’s stock worth $9,944,000 after buying an additional 158,187 shares during the period. Institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

OMF has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on OneMain from $48.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. TD Cowen boosted their price target on OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on OneMain from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Royal Bank of Canada boosted their price target on OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Finally, Barclays reduced their price target on OneMain from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Insider Buying and Selling at OneMain

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

OneMain Stock Performance

Shares of OMF traded up $0.64 during mid-day trading on Friday, reaching $53.09. The company had a trading volume of 513,548 shares, compared to its average volume of 947,703. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.77 and a beta of 1.58. OneMain Holdings, Inc. has a 52 week low of $35.00 and a 52 week high of $53.65. The firm has a 50-day moving average price of $49.00 and a 200 day moving average price of $48.66.

OneMain (NYSE:OMF) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.07. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $907.93 million. OneMain had a return on equity of 20.78% and a net margin of 13.29%. During the same period in the prior year, the firm earned $1.46 EPS. As a group, research analysts forecast that OneMain Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.84%. 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%.

OneMain 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.