Clearbridge Investments LLC Decreases Stake in OneMain Holdings, Inc. (NYSE:OMF)

Clearbridge Investments LLC lessened its position in shares of OneMain Holdings, Inc. (NYSE:OMF) by 27.2% in the 1st quarter, HoldingsChannel reports. The fund owned 1,700,727 shares of the financial services provider’s stock after selling 634,519 shares during the period. Clearbridge Investments LLC’s holdings in OneMain were worth $63,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in OneMain by 7.0% during the 1st quarter. FMR LLC now owns 10,860,979 shares of the financial services provider’s stock worth $402,725,000 after acquiring an additional 711,440 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of OneMain by 6.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 37,730 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 2,359 shares in the last quarter. Barnett & Company Inc. boosted its holdings in shares of OneMain by 10.0% in the 1st quarter. Barnett & Company Inc. now owns 118,273 shares of the financial services provider’s stock valued at $4,386,000 after buying an additional 10,800 shares in the last quarter. Barclays PLC boosted its holdings in shares of OneMain by 35.8% in the 1st quarter. Barclays PLC now owns 42,486 shares of the financial services provider’s stock valued at $1,576,000 after buying an additional 11,202 shares in the last quarter. Finally, Atom Investors LP acquired a new position in shares of OneMain in the 4th quarter valued at $597,000. Institutional investors and hedge funds own 79.70% of the company’s stock.

Analysts Set New Price Targets

OMF has been the subject of several research analyst reports. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of OneMain in a report on Friday, August 18th. StockNews.com initiated coverage on shares of OneMain in a report on Thursday, August 17th. They issued a “buy” rating for the company. Royal Bank of Canada upped their target price on shares of OneMain from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. JMP Securities decreased their price target on shares of OneMain from $55.00 to $53.00 in a research note on Thursday, July 27th. Finally, Piper Sandler increased their price target on shares of OneMain from $53.00 to $57.00 in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.31.

OneMain Stock Performance

Shares of OneMain stock opened at $42.30 on Monday. The company has a market cap of $5.09 billion, a P/E ratio of 7.94, a PEG ratio of 1.32 and a beta of 1.71. OneMain Holdings, Inc. has a one year low of $28.77 and a one year high of $48.64. The firm has a fifty day moving average of $43.75 and a two-hundred day moving average of $40.61.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $883.84 million. OneMain had a return on equity of 22.23% and a net margin of 14.60%. During the same quarter in the previous year, the company posted $1.87 EPS. As a group, equities analysts predict that OneMain Holdings, Inc. will post 5.61 earnings per share for the current year.

OneMain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, August 7th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, August 4th. This represents a $4.00 annualized dividend and a dividend yield of 9.46%. OneMain’s dividend payout ratio is currently 75.05%.

OneMain Company Profile

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