Wedge Capital Management L L P NC Decreases Position in OneMain Holdings, Inc. $OMF

Wedge Capital Management L L P NC decreased its position in OneMain Holdings, Inc. (NYSE:OMF) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,992 shares of the financial services provider’s stock after selling 16,593 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of OneMain worth $4,912,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. SVB Wealth LLC purchased a new position in shares of OneMain during the 1st quarter valued at $34,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in OneMain by 79.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 820 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 363 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in OneMain during the first quarter valued at about $42,000. Golden State Wealth Management LLC lifted its holdings in OneMain by 2,940.0% during the second quarter. Golden State Wealth Management LLC now owns 912 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 882 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in OneMain during the second quarter worth about $56,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

OneMain Trading Down 0.2%

OMF stock opened at $68.23 on Monday. The company’s 50 day moving average is $60.64 and its 200 day moving average is $58.75. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.45 and a beta of 1.38. OneMain Holdings, Inc. has a 1-year low of $38.00 and a 1-year high of $70.17.

OneMain (NYSE:OMF) last released its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.32. The business had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $1.24 billion. OneMain had a net margin of 13.15% and a return on equity of 22.70%. During the same quarter in the previous year, the company earned $1.31 EPS. As a group, sell-side analysts forecast that OneMain Holdings, Inc. will post 6.46 EPS for the current fiscal year.

OneMain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were given a dividend of $1.05 per share. The ex-dividend date was Monday, November 10th. This is a positive change from OneMain’s previous quarterly dividend of $1.04. This represents a $4.20 dividend on an annualized basis and a yield of 6.2%. OneMain’s dividend payout ratio (DPR) is 71.19%.

Insider Transactions at OneMain

In other OneMain news, CEO Douglas H. Shulman sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $59.54, for a total value of $2,083,900.00. Following the completion of the sale, the chief executive officer owned 231,600 shares of the company’s stock, valued at $13,789,464. This represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Hedlund sold 652 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $62.00, for a total transaction of $40,424.00. Following the transaction, the senior vice president owned 15,179 shares in the company, valued at $941,098. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 40,652 shares of company stock worth $2,420,324. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on OMF shares. Royal Bank Of Canada upped their price target on shares of OneMain from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Citizens Jmp dropped their target price on OneMain from $70.00 to $68.00 and set a “market outperform” rating on the stock in a research report on Monday, November 24th. JPMorgan Chase & Co. raised their price target on OneMain from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. JMP Securities set a $68.00 price objective on OneMain in a research note on Monday, November 24th. Finally, Truist Financial assumed coverage on OneMain in a report on Monday, December 8th. They set a “buy” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.