Police & Firemen s Retirement System of New Jersey Grows Stake in OneMain Holdings, Inc. $OMF

Police & Firemen s Retirement System of New Jersey increased its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,077 shares of the financial services provider’s stock after purchasing an additional 4,418 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in OneMain were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OMF. Pallas Capital Advisors LLC purchased a new position in shares of OneMain in the second quarter valued at approximately $350,000. Envestnet Asset Management Inc. lifted its holdings in OneMain by 15.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 92,189 shares of the financial services provider’s stock valued at $4,506,000 after purchasing an additional 12,407 shares in the last quarter. Invesco Ltd. boosted its stake in OneMain by 16.4% during the 1st quarter. Invesco Ltd. now owns 335,097 shares of the financial services provider’s stock worth $16,380,000 after purchasing an additional 47,099 shares during the last quarter. Victory Capital Management Inc. boosted its stake in OneMain by 226.3% during the 1st quarter. Victory Capital Management Inc. now owns 70,219 shares of the financial services provider’s stock worth $3,432,000 after purchasing an additional 48,702 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of OneMain during the first quarter worth $515,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at OneMain

In related news, CEO Douglas H. Shulman sold 35,000 shares of OneMain stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $59.54, for a total value of $2,083,900.00. Following the completion of the sale, the chief executive officer owned 231,600 shares in the company, valued at approximately $13,789,464. This trade represents a 13.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $59.20, for a total value of $296,000.00. Following the completion of the sale, the chief operating officer directly owned 88,221 shares in the company, valued at approximately $5,222,683.20. The trade was a 5.36% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

OneMain Stock Performance

OMF opened at $57.32 on Wednesday. The stock has a market capitalization of $6.75 billion, a PE ratio of 10.35, a P/E/G ratio of 0.45 and a beta of 1.37. OneMain Holdings, Inc. has a one year low of $38.00 and a one year high of $63.24. The business’s 50 day moving average price is $57.93 and its 200 day moving average price is $56.61.

OneMain (NYSE:OMF) last posted its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.32. OneMain had a return on equity of 20.65% and a net margin of 12.63%.The company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. As a group, equities research analysts forecast that OneMain Holdings, Inc. will post 6.46 earnings per share for the current fiscal year.

OneMain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 7.3%. This is a boost from OneMain’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, November 10th. OneMain’s payout ratio is 71.19%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OMF shares. Citizens Jmp boosted their price target on shares of OneMain from $63.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Monday, November 3rd. JMP Securities set a $70.00 price target on OneMain in a research report on Monday, November 3rd. Royal Bank Of Canada increased their price target on OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Wells Fargo & Company started coverage on OneMain in a research report on Monday, August 25th. They set an “equal weight” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of OneMain in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.13.

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.