Teacher Retirement System of Texas Purchases New Shares in OneMain Holdings, Inc. (NYSE:OMF)

Teacher Retirement System of Texas acquired a new position in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,453 shares of the financial services provider’s stock, valued at approximately $853,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new stake in shares of OneMain during the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its holdings in shares of OneMain by 191.9% in the 1st quarter. GAMMA Investing LLC now owns 1,007 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 662 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in OneMain during the 1st quarter worth about $54,000. Fourth Dimension Wealth LLC acquired a new position in OneMain during the 4th quarter valued at about $57,000. Finally, Farther Finance Advisors LLC raised its position in shares of OneMain by 198.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,670 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 1,110 shares during the period. 85.82% of the stock is owned by institutional investors and hedge funds.

OneMain Price Performance

Shares of OneMain stock opened at $58.90 on Tuesday. The firm has a market cap of $7.01 billion, a PE ratio of 12.45, a P/E/G ratio of 0.51 and a beta of 1.32. OneMain Holdings, Inc. has a 1 year low of $38.00 and a 1 year high of $60.12. The stock has a fifty day moving average price of $53.53 and a 200-day moving average price of $51.84.

OneMain (NYSE:OMF) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.17. The business had revenue of $188.00 million during the quarter, compared to analyst estimates of $1.16 billion. OneMain had a return on equity of 19.30% and a net margin of 11.06%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. As a group, equities analysts anticipate that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $4.16 dividend on an annualized basis and a yield of 7.06%. OneMain’s payout ratio is 87.95%.

Insider Buying and Selling

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $52.21, for a total value of $261,050.00. Following the transaction, the chief operating officer directly owned 108,007 shares of the company’s stock, valued at $5,639,045.47. The trade was a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas H. Shulman sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,000,000.00. Following the transaction, the chief executive officer directly owned 368,925 shares in the company, valued at $18,446,250. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $5,082,190 over the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research note on Wednesday, April 30th. Northland Securities upgraded OneMain from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their target price on OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday. Barclays lifted their price objective on OneMain from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Northland Capmk upgraded OneMain from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

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.