702,369 Shares in OneMain Holdings, Inc. $OMF Acquired by Patient Capital Management LLC

Patient Capital Management LLC bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF) in the 2nd quarter, HoldingsChannel reports. The firm bought 702,369 shares of the financial services provider’s stock, valued at approximately $42,824,000. OneMain accounts for about 1.4% of Patient Capital Management LLC’s holdings, making the stock its 28th largest position.

A number of other large investors have also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC grew its position in OneMain by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 374 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in shares of OneMain during the 4th quarter valued at $31,000. Atlantic Union Bankshares Corp bought a new stake in shares of OneMain during the 4th quarter worth $36,000. Transamerica Financial Advisors LLC grew its holdings in shares of 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 acquiring an additional 314 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of OneMain in the 3rd quarter worth $46,000. 85.82% of the stock is currently owned by institutional investors.

Insider Transactions at OneMain

In other OneMain news, COO Micah R. Conrad sold 5,000 shares of OneMain stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $65.40, for a total transaction of $327,000.00. Following the transaction, the chief operating officer owned 91,250 shares of the company’s stock, valued at $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 available through this hyperlink. Also, SVP Michael A. Hedlund sold 2,500 shares of OneMain stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,000.00. Following the transaction, the senior vice president directly owned 10,627 shares in the company, valued at approximately $680,128. This trade represents a 19.04% decrease in their position. 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 valued at $911,576 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

OneMain Stock Up 0.1%

Shares of NYSE:OMF opened at $63.26 on Monday. The company’s fifty day moving average is $61.24 and its two-hundred day moving average is $57.56. The company has a market cap of $7.28 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. OneMain Holdings, Inc. has a 12-month low of $45.78 and a 12-month high of $71.93.

OneMain (NYSE:OMF) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. OneMain had a return on equity of 23.49% and a net margin of 13.92%.The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the firm posted $1.45 earnings per share. OneMain’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given 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 (DPR) is presently 63.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OMF. Truist Financial upped their target price on OneMain from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citizens Jmp lifted their price target on OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Barclays cut their price objective on OneMain from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 7th. Citigroup reaffirmed a “market outperform” rating on shares of OneMain in a research note on Thursday, July 30th. Finally, Evercore set a $66.00 target price on shares of OneMain in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, OneMain currently has an average rating of “Moderate Buy” and an average price target of $68.40.

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.