Geode Capital Management LLC Increases Stock Position in OneMain Holdings, Inc. (NYSE:OMF)

by · The Markets Daily

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Geode Capital Management LLC boosted its holdings in OneMain Holdings, Inc. (NYSE:OMF – Free Report) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,893,235 shares of the financial services provider’s stock after purchasing an additional 4,956 shares during the quarter. Geode Capital Management LLC owned about 1.57% of OneMain worth $82,716,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OMF. Sei Investments Co. boosted its stake in shares of OneMain by 6.2% during the second quarter. Sei Investments Co. now owns 9,973 shares of the financial services provider’s stock worth $436,000 after buying an additional 580 shares during the period. PNC Financial Services Group Inc. lifted its position in OneMain by 87.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,918 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,360 shares during the period. Prescott Group Capital Management L.L.C. lifted its position in OneMain by 49.2% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 91,000 shares of the financial services provider’s stock worth $3,976,000 after acquiring an additional 30,000 shares during the period. Osaic Holdings Inc. grew its stake in shares of OneMain by 54.0% in the 2nd quarter. Osaic Holdings Inc. now owns 23,272 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 8,164 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of OneMain in the second quarter valued at approximately $1,912,000. Institutional investors and hedge funds own 79.70% of the company’s stock.

OneMain Stock Up 2.4 %

OneMain stock opened at $43.33 on Friday. The firm’s 50-day simple moving average is $38.21 and its 200 day simple moving average is $40.84. OneMain Holdings, Inc. has a 52 week low of $31.97 and a 52 week high of $48.64. The firm has a market capitalization of $5.20 billion, a PE ratio of 7.99, a P/E/G ratio of 1.37 and a beta of 1.71.

OneMain (NYSE:OMF – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.06. OneMain had a net margin of 14.58% and a return on equity of 22.12%. The company had revenue of $900.00 million for the quarter, compared to the consensus estimate of $907.28 million. On average, research analysts expect that OneMain Holdings, Inc. will post 5.4 EPS for the current fiscal year.

OneMain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Monday, November 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 9.23%. OneMain’s dividend payout ratio (DPR) is 73.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OMF shares. Barclays began coverage on shares of OneMain in a research note on Wednesday, November 15th. They issued an “overweight” rating and a $51.00 price objective on the stock. StockNews.com downgraded shares of OneMain from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on OneMain from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Piper Sandler reduced their price target on OneMain from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Finally, Wells Fargo & Company cut their price objective on OneMain from $47.00 to $41.00 in a research report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, OneMain has a consensus rating of “Moderate Buy” and a consensus price target of $48.46.

View Our Latest Report on OMF

About OneMain

(Free Report)

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards and insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.

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