OneMain Holdings, Inc. $OMF is Basswood Capital Management L.L.C.’s 10th Largest Position

Basswood Capital Management L.L.C. cut its stake in OneMain Holdings, Inc. (NYSE:OMF) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 847,066 shares of the financial services provider’s stock after selling 25,378 shares during the period. OneMain comprises about 2.1% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 10th largest position. Basswood Capital Management L.L.C. owned 0.74% of OneMain worth $51,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in OneMain during the 2nd quarter valued at about $633,893,000. Dimensional Fund Advisors LP grew its stake in OneMain by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,342,241 shares of the financial services provider’s stock worth $232,258,000 after acquiring an additional 308,370 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of OneMain by 7.7% during the first quarter. Janus Henderson Group PLC now owns 2,729,862 shares of the financial services provider’s stock worth $146,030,000 after acquiring an additional 195,591 shares during the period. Jupiter Topco LLC bought a new stake in shares of OneMain during the second quarter valued at approximately $166,060,000. Finally, Geode Capital Management LLC raised its stake in shares of OneMain by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,422,562 shares of the financial services provider’s stock valued at $164,017,000 after acquiring an additional 15,941 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on OMF shares. TD Cowen boosted their price target on OneMain from $66.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a report on Friday, July 10th. Evercore set a $66.00 target price on OneMain in a research report on Monday, July 6th. Barclays lowered their target price on OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Finally, Citizens Jmp increased their price target on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.40.

OneMain Stock Performance

Shares of OMF opened at $63.25 on Thursday. The company has a 50 day moving average price of $61.57 and a 200-day moving average price of $57.56. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The stock has a market capitalization of $7.28 billion, a PE ratio of 9.53, a PEG ratio of 0.48 and a beta of 1.21.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.28 billion. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.45 earnings per share. Equities research analysts forecast that OneMain Holdings, Inc. will post 7.11 EPS for the current year.

OneMain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were issued a dividend of $1.05 per share. The ex-dividend date was Monday, August 10th. This represents a $4.20 dividend on an annualized basis and a yield of 6.6%. OneMain’s dividend payout ratio is currently 63.25%.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total value of $327,000.00. Following the completion of the transaction, the chief operating officer directly owned 91,250 shares of the company’s stock, valued at approximately $5,967,750. The trade was a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael A. Hedlund sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,000.00. Following the sale, the senior vice president owned 10,627 shares of the company’s stock, valued at $680,128. This trade represents a 19.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,348 shares of company stock worth $911,576 in the last ninety days. Insiders own 0.29% of the company’s stock.

OneMain Profile

OneMain Financial (NYSE: OMF) is a leading consumer finance company specializing in unsecured personal loans for middle-income customers. The company offers tailored loan products designed to address a variety of needs, including debt consolidation, home improvement financing, large purchases and emergency expenses. Through a combination of branch-based service and digital channels, OneMain aims to deliver a personalized borrowing experience with flexible repayment options and transparent terms.

Tracing its roots back to the Commercial Credit Company founded in 1912, OneMain has evolved through a series of mergers and corporate transformations.