M&T Bank Corp Decreases Holdings in OneMain Holdings, Inc. (NYSE:OMF)

M&T Bank Corp reduced its position in OneMain Holdings, Inc. (NYSE:OMF) by 2.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,552 shares of the financial services provider’s stock after selling 249 shares during the period. M&T Bank Corp’s holdings in OneMain were worth $516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OMF. Victory Capital Management Inc. lifted its holdings in shares of OneMain by 5.8% in the 4th quarter. Victory Capital Management Inc. now owns 21,517 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 1,179 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of OneMain in the 4th quarter valued at about $2,075,000. PNC Financial Services Group Inc. lifted its holdings in shares of OneMain by 15.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,263 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 569 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of OneMain by 41.5% in the 4th quarter. HighTower Advisors LLC now owns 17,775 shares of the financial services provider’s stock valued at $927,000 after purchasing an additional 5,217 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of OneMain in the 4th quarter valued at about $294,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Northland Capmk raised OneMain from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Evercore ISI initiated coverage on OneMain in a research note on Tuesday, March 25th. They set an “in-line” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on OneMain from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Northland Securities raised OneMain from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 8th. Finally, Barclays upped their price objective on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.78.

OneMain Trading Down 0.0%

NYSE OMF opened at $57.22 on Thursday. The business’s 50 day moving average is $54.07 and its two-hundred day moving average is $51.96. OneMain Holdings, Inc. has a 12-month low of $38.00 and a 12-month high of $60.12. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.50 and a beta of 1.32.

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

OneMain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 7.27%. The ex-dividend date was Friday, May 9th. OneMain’s payout ratio is 87.95%.

Insider Activity at OneMain

In related news, COO Micah R. Conrad sold 5,000 shares of the company’s 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 sale, the chief operating officer owned 108,007 shares in the company, valued at $5,639,045.47. This represents a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Douglas H. Shulman sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief executive officer owned 368,925 shares in the company, valued at approximately $18,446,250. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $5,082,190 in the last quarter. 0.40% of the stock is currently owned by insiders.

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.