Vestcor Inc Sells 10,000 Shares of OneMain Holdings, Inc. $OMF

Vestcor Inc lowered its stake in shares of OneMain Holdings, Inc. (NYSE:OMF) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,667 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Vestcor Inc’s holdings in OneMain were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in OneMain by 33.5% during the third quarter. JPMorgan Chase & Co. now owns 289,943 shares of the financial services provider’s stock valued at $16,370,000 after purchasing an additional 72,688 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in OneMain by 24.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 259,803 shares of the financial services provider’s stock valued at $17,945,000 after purchasing an additional 50,521 shares in the last quarter. American Century Companies Inc. boosted its position in OneMain by 3.4% during the third quarter. American Century Companies Inc. now owns 1,065,463 shares of the financial services provider’s stock valued at $60,156,000 after purchasing an additional 35,126 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in OneMain by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,980,031 shares of the financial services provider’s stock valued at $224,723,000 after purchasing an additional 63,774 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in OneMain during the third quarter valued at about $1,107,000. Institutional investors own 85.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price objective on OneMain from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. BTIG Research reaffirmed a “neutral” rating on shares of OneMain in a research report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price target on OneMain from $63.00 to $55.00 and set an “underweight” rating for the company in a report on Thursday, April 9th. TD Cowen reissued a “buy” rating on shares of OneMain in a report on Monday, May 4th. Finally, Barclays lowered their price target on OneMain from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.30.

Insider Buying and Selling at OneMain

In other news, COO Micah R. Conrad sold 5,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the chief operating officer owned 101,250 shares in the company, valued at $6,075,000. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by insiders.

OneMain Stock Performance

Shares of NYSE OMF opened at $54.00 on Tuesday. OneMain Holdings, Inc. has a fifty-two week low of $45.78 and a fifty-two week high of $71.93. The company has a market cap of $6.24 billion, a PE ratio of 8.03, a P/E/G ratio of 0.41 and a beta of 1.24. The business has a 50-day simple moving average of $55.44 and a two-hundred day simple moving average of $59.49.

OneMain (NYSE:OMF) last released its earnings results on Friday, May 1st. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.09. OneMain had a return on equity of 24.24% and a net margin of 14.38%.The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that OneMain Holdings, Inc. will post 7.38 earnings per share for the current fiscal year.

OneMain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 7.8%. The ex-dividend date was Monday, May 11th. OneMain’s dividend payout ratio is 62.50%.

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.