Maryland State Retirement & Pension System Reduces Stake in OneMain Holdings, Inc. $OMF

Maryland State Retirement & Pension System reduced its position in OneMain Holdings, Inc. (NYSE:OMF) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,275 shares of the financial services provider’s stock after selling 1,197 shares during the period. Maryland State Retirement & Pension System’s holdings in OneMain were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of OneMain by 56.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 121,577 shares of the financial services provider’s stock worth $5,966,000 after buying an additional 43,915 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of OneMain by 5.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,851 shares of the financial services provider’s stock worth $1,251,000 after buying an additional 1,441 shares during the last quarter. Teacher Retirement System of Texas bought a new position in OneMain in the 1st quarter worth $853,000. Finally, SG Americas Securities LLC lifted its position in OneMain by 171.9% during the first quarter. SG Americas Securities LLC now owns 10,874 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 6,875 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $59.47, for a total value of $2,081,450.00. Following the sale, the chief executive officer directly owned 275,100 shares of the company’s stock, valued at approximately $16,360,197. The trade was a 11.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Micah R. Conrad sold 3,000 shares of OneMain stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the completion of the sale, the chief operating officer directly owned 98,007 shares in the company, valued at $5,880,420. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock worth $3,976,390 over the last ninety days. Insiders own 0.40% of the company’s stock.

OneMain Stock Up 1.6%

NYSE:OMF opened at $58.21 on Tuesday. The business’s 50-day simple moving average is $56.81 and its two-hundred day simple moving average is $52.40. The stock has a market cap of $6.92 billion, a PE ratio of 10.51, a P/E/G ratio of 0.45 and a beta of 1.29. OneMain Holdings, Inc. has a 52 week low of $38.00 and a 52 week high of $60.33.

OneMain (NYSE:OMF) last posted its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. OneMain had a return on equity of 20.65% and a net margin of 12.63%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.02 earnings per share. Sell-side analysts anticipate that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Monday, August 4th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Monday, August 4th. OneMain’s payout ratio is 75.09%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their target price on OneMain from $48.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on OneMain from $53.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of OneMain in a research report on Wednesday, April 30th. Finally, 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, July 11th. Three research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.