OneMain Holdings, Inc. $OMF Stock Position Lifted by California State Teachers Retirement System

California State Teachers Retirement System grew its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 25.3% during the 1st quarter, HoldingsChannel reports. The fund owned 140,981 shares of the financial services provider’s stock after acquiring an additional 28,424 shares during the period. California State Teachers Retirement System’s holdings in OneMain were worth $7,541,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OMF. CIBC Private Wealth Group LLC increased its stake in shares of OneMain by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. Core Wealth Advisors LLC bought a new position in shares of OneMain in the 4th quarter valued at approximately $31,000. Atlantic Union Bankshares Corp acquired a new stake in OneMain in the 4th quarter worth approximately $36,000. Transamerica Financial Advisors LLC lifted its holdings in OneMain by 88.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 670 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in OneMain during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Insider Transactions at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $62.00, for a total value of $310,000.00. Following the sale, the chief operating officer directly owned 96,250 shares in the company, valued at approximately $5,967,500. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael A. Hedlund sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 10,627 shares of the company’s stock, valued at approximately $680,128. The trade was a 19.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,348 shares of company stock valued at $584,576. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citizens Jmp increased their price target on OneMain from $68.00 to $70.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Barclays decreased their price objective on shares of OneMain from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Evercore set a $66.00 target price on shares of OneMain in a research note on Monday, July 6th. Truist Financial lifted their target price on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. cut their price objective on OneMain from $63.00 to $55.00 and set an “underweight” rating for the company in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.40.

OneMain Price Performance

Shares of OneMain stock opened at $65.39 on Wednesday. OneMain Holdings, Inc. has a 52-week low of $45.78 and a 52-week high of $71.93. The firm has a market capitalization of $7.52 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.49 and a beta of 1.21. The company’s fifty day moving average price is $58.79 and its two-hundred day moving average price is $57.62.

OneMain (NYSE:OMF) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. OneMain had a net margin of 13.92% and a return on equity of 23.49%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $1.45 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that OneMain Holdings, Inc. will post 7.12 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 10th. OneMain’s dividend payout ratio is 63.25%.

About OneMain

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.