California Public Employees Retirement System Cuts Stake in OneMain Holdings, Inc. (NYSE:OMF)

California Public Employees Retirement System lessened its position in OneMain Holdings, Inc. (NYSE:OMF) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 214,613 shares of the financial services provider’s stock after selling 16,296 shares during the period. California Public Employees Retirement System’s holdings in OneMain were worth $10,559,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in OneMain in the 3rd quarter worth about $26,000. Blue Trust Inc. grew its stake in shares of OneMain by 49.9% in the fourth quarter. Blue Trust Inc. now owns 730 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 243 shares during the period. ZRC Wealth Management LLC purchased a new position in shares of OneMain during the fourth quarter valued at approximately $45,000. Operose Advisors LLC bought a new position in OneMain during the third quarter valued at approximately $40,000. Finally, Allworth Financial LP boosted its holdings in OneMain by 368.4% in the third quarter. Allworth Financial LP now owns 1,068 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

OneMain Stock Down 2.6 %

Shares of OneMain stock opened at $50.77 on Thursday. The stock’s 50-day simple moving average is $48.87 and its 200-day simple moving average is $45.58. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.70 and a beta of 1.65. OneMain Holdings, Inc. has a 52 week low of $33.67 and a 52 week high of $53.65.

OneMain (NYSE:OMF) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.07. OneMain had a net margin of 14.04% and a return on equity of 21.07%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $907.93 million. During the same period last year, the firm posted $1.46 EPS. On average, equities analysts expect that OneMain Holdings, Inc. will post 5.67 earnings per share for the current year.

OneMain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Thursday, May 9th. This is an increase from OneMain’s previous quarterly dividend of $1.00. OneMain’s dividend payout ratio is 75.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on OMF. StockNews.com raised OneMain from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Northland Securities downgraded OneMain from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $46.00 to $49.00 in a research note on Wednesday, January 17th. JMP Securities increased their price objective on shares of OneMain from $57.00 to $62.00 and gave the stock a “market outperform” rating in a research note on Wednesday. TD Cowen boosted their target price on shares of OneMain from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citigroup decreased their price target on shares of OneMain from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OneMain currently has an average rating of “Moderate Buy” and an average target price of $53.31.

About OneMain

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.