Panagora Asset Management Inc. Takes Position in OneMain Holdings, Inc. (NYSE:OMF)

Panagora Asset Management Inc. acquired a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,087 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OMF. Taylor Frigon Capital Management LLC bought a new stake in shares of OneMain in the 4th quarter valued at about $1,649,000. Invesco Ltd. increased its stake in OneMain by 36.5% in the third quarter. Invesco Ltd. now owns 565,150 shares of the financial services provider’s stock valued at $22,657,000 after purchasing an additional 151,226 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in OneMain by 659.7% in the fourth quarter. Miller Howard Investments Inc. NY now owns 105,289 shares of the financial services provider’s stock worth $5,180,000 after purchasing an additional 91,429 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of OneMain by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,842 shares of the financial services provider’s stock worth $66,363,000 after purchasing an additional 17,330 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of OneMain in the 3rd quarter valued at $1,351,000. Institutional investors own 85.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OMF shares. Stephens decreased their target price on OneMain from $61.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. JMP Securities raised their target price on shares of OneMain from $57.00 to $62.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Barclays reduced their price target on shares of OneMain from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, February 8th. Royal Bank of Canada raised their price objective on shares of OneMain from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Finally, Piper Sandler lowered shares of OneMain from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $49.00 in a research note on Thursday, February 8th. Four equities research 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, OneMain has an average rating of “Moderate Buy” and a consensus target price of $54.62.

OneMain Stock Up 1.0 %

OMF stock opened at $48.35 on Friday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.67 and a beta of 1.63. OneMain Holdings, Inc. has a twelve month low of $35.00 and a twelve month high of $53.65. The business has a 50 day moving average price of $49.72 and a two-hundred day moving average price of $47.08.

OneMain (NYSE:OMF) last issued its 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. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $907.93 million. OneMain had a net margin of 13.29% and a return on equity of 20.78%. During the same period in the previous year, the company earned $1.46 earnings per share. On average, equities research analysts anticipate that OneMain Holdings, Inc. will post 5.62 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 8.60%. This is a boost from OneMain’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, May 9th. OneMain’s dividend payout ratio is presently 81.09%.

Insider Activity at OneMain

In related 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 value of $976,030.00. Following the sale, the chief executive officer now owns 451,300 shares in the company, valued at approximately $23,183,281. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Micah R. Conrad sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $50.63, for a total transaction of $379,725.00. Following the sale, the chief operating officer now owns 119,525 shares of the company’s stock, valued at $6,051,550.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas H. Shulman sold 19,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $51.37, for a total value of $976,030.00. Following the sale, the chief executive officer now owns 451,300 shares of the company’s stock, valued at $23,183,281. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.

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.