Miller Value Partners LLC Buys New Stake in OneMain Holdings, Inc. $OMF

Miller Value Partners LLC purchased a new position in OneMain Holdings, Inc. (NYSE:OMF) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 82,941 shares of the financial services provider’s stock, valued at approximately $5,057,000. OneMain accounts for about 1.2% of Miller Value Partners LLC’s holdings, making the stock its 24th largest position.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in OneMain during the second quarter valued at $633,893,000. Jupiter Topco LLC bought a new stake in shares of OneMain in the 2nd quarter worth about $166,060,000. Norges Bank bought a new stake in shares of OneMain in the 4th quarter worth about $100,312,000. Bank of New York Mellon Corp purchased a new stake in shares of OneMain during the 2nd quarter valued at about $63,980,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of OneMain by 70.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,534,271 shares of the financial services provider’s stock valued at $171,210,000 after acquiring an additional 1,047,263 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Insider Activity at OneMain

In related news, SVP Michael A. Hedlund sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 owned 10,627 shares of the company’s stock, valued at $680,128. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Micah R. Conrad sold 5,000 shares of the business’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 transaction of $310,000.00. Following the completion of the transaction, the chief operating officer directly owned 96,250 shares of the company’s stock, valued at $5,967,500. This trade represents a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,348 shares of company stock worth $911,576. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore set a $66.00 price objective on OneMain in a research report on Monday, July 6th. TD Cowen lifted their target price on OneMain from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of OneMain in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of OneMain in a research report on Friday, July 10th. Finally, Truist Financial lifted their price objective on shares of OneMain from $70.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, OneMain has an average rating of “Moderate Buy” and an average target price of $68.40.

OneMain Stock Up 0.7%

Shares of NYSE OMF opened at $63.33 on Wednesday. OneMain Holdings, Inc. has a twelve month low of $45.78 and a twelve month high of $71.93. The business has a fifty day simple moving average of $61.46 and a two-hundred day simple moving average of $57.55. The firm has a market cap of $7.29 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21.

OneMain (NYSE:OMF) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.31 EPS for the quarter, beating 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 business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, research analysts expect that OneMain Holdings, Inc. will post 7.11 earnings per share for the current year.

OneMain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were paid 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 dividend yield of 6.6%. OneMain’s dividend payout ratio (DPR) is currently 63.25%.

OneMain Company 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.